Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 315

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 315
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 in respect of any such resales. There is no certainty that the Company will be successful in reselling or recovering its costs in respect of such resales of natural gas. As well, the coal used to fuel the Centralia facility is sourced from the Powder River Basin in Montana and Wyoming through contracts to purchase and transport such coal to our Centralia facility. The loss of our suppliers or inability to receive coal at Centralia under our existing coal contracts at sufficient

| TransAlta Corporation |     | 2024 Integrated Report |     | M143 |

Management’s Discussion and Analysis

quantities, or at all, could also significantly affect our ability to serve our customers and have an adverse impact on our financial condition and results of operations. We could face the risk of inadequate supply service due to our reliance on the Pioneer Pipeline and on the ATCO Pipeline as a significant provider of natural gas for our Sundance and Keephills units. We manage gas supply and price risk by:

| • |     | Working to ensure that we have at least two pipelines supplying the gas used in electrical 
 generation in Alberta;                                                                     |

| • |     | Contracting for firm gas delivery and supply; |

| • |     | Monitoring the financial viability of gas producers and pipelines; |

| • |     | Hedging gas price exposure; and |

| • |     | Monitoring pipeline maintenance schedules and transportation availability. |

We manage coal supply and price risk by:

| • |     | Sourcing the coal used at Centralia from different mine sources to ensure sufficient coal is 
 available at a competitive cost;                                                             |

| • |     | Contracting sufficient trains to deliver the coal requirements at Centralia; |

| • |     | Ensuring coal inventories on hand at Centralia are at appropriate levels for usage requirements; |

| • |     | Ensuring efficient coal handling and storage facilities are in place so that the coal being 
 delivered can be processed in a timely and efficient manner;                                |

| • |     | Monitoring and maintaining coal specifications and carefully matching the specifications mined with 
 the requirements of our facilities;                                                                 |

| • |     | Monitoring the financial viability of Centralia suppliers; and |

| • |     | Hedging diesel exposure in mining and transportation costs. |

In managing gas supply risk the company will enter into long term transportation service agreements to ensure that facilities have adequate gas supply. This also could result in the additional risk of of being in a surplus position where some of the transportation capacity may not be needed, and the