TRANSALTA CORP

Summarized below are significant developments that have occurred in our business during the last three financial years and year to date in 2026. These events include growth, innovation, acquisitions, recontracting, retirement of assets, dispositions, corporate changes, and other events or conditions that have influenced the general development of the Company's business. Three-Year History 2026 MOU for Data Centre Development at Keephills Site On Feb. 26, 2026, the Company entered into a Memorandum of Understanding (MOU) with Canada Pension Plan Investments and Brookfield to advance data centre development in Alberta, for which TransAlta will be the exclusive site and power provider. The MOU establishes a framework for phased development at the Company's Keephills site in Parkland County, including an initial long-term power purchase agreement for approximately 230 MW and the evaluation of opportunities for additional development aggregating up to 1 GW TransAlta Corporation Annual Information Form 5 of load. Development is subject to regulatory approvals and the parties reaching definitive binding agreements. Acquisition of Far North Power On Feb. 2, 2026 the Company closed the acquisition of Far North Power Corporation (Far North)for a purchase price of $95 million from an affiliate of Hut 8 Corporation, subject to working capital and other adjustments. The acquisition adds 310 MW of capacity from four natural gas-fired facilities in our core market of Ontario, increasing the Company's total installed capacity in the province to 1,384 MW.