{"id":906934,"date":"2025-11-06T12:35:32","date_gmt":"2025-11-06T17:35:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/"},"modified":"2025-11-06T12:35:32","modified_gmt":"2025-11-06T17:35:32","slug":"transalta-reports-third-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/","title":{"rendered":"TransAlta Reports Third Quarter 2025 Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">CALGARY, Alberta, Nov.  06, 2025  (GLOBE NEWSWIRE) &#8212; TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the third quarter ended Sept. 30, 2025.<\/p>\n<p align=\"justify\">\u201cOur business delivered solid operational performance during the third quarter, demonstrating the Company&#8217;s resilience in the face of challenging market conditions. Our Alberta portfolio&#8217;s hedging strategy and active asset optimization continued to generate realized prices well above spot prices, while availability remained high across the fleet. Although Alberta power prices remain suppressed, our assets continue to perform well, and we remain confident in achieving results within our 2025 Outlook range,\u201d said John Kousinioris, President and Chief Executive Officer.<\/p>\n<p align=\"justify\">\u201cWe are pleased with the continued progress on a number of our key priorities, including our Alberta data centre strategy. We have entered into a Demand Transmission Service contract with the Alberta Electric System Operator (AESO) for 230 MW, representing the full allocation awarded to the Company through Phase I of the AESO&#8217;s Data Centre Large Load Integration Program. In September, Parkland County unanimously approved the re-zoning of over 3,000 acres of TransAlta-owned land surrounding our Keephills and Sundance facilities to support data centre development. We continue to work closely with our counterparties on their data centre project and are steadily progressing towards the execution of a memorandum of understanding for the initial allocation and potential multi-stage development,\u201d added Mr. Kousinioris.<\/p>\n<p align=\"justify\">\u201cWe also continue to progress negotiations to convert our Centralia facility in Washington State to gas-fired operations and are working towards executing a definitive agreement with our customer within the quarter for the full capacity of Centralia Unit 2.\u201d<\/p>\n<p align=\"justify\">\u201cWhile we remain confident in the progress of these key priorities, we have decided to shift the timing of our Investor Day to the first quarter of 2026, when we expect to be able to provide more detailed updates on both projects and their impacts on the Company,\u201d said Mr. Kousinioris.<\/p>\n<p align=\"justify\">\u201cToday, I announced my retirement from TransAlta and its Board of Directors, effective April 30, 2026. Joel Hunter, the Company\u2019s current Executive Vice President, Finance and Chief Financial Officer will succeed me as President and Chief Executive Officer. I fully support Joel as the next President and CEO and I look forward to working with him, management and the Board to ensure a seamless transition.\u201d<\/p>\n<p>\n        <strong>Third Quarter 2025 Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:6pt;text-align:justify\">Achieved strong operational availability of 92.7 per cent in 2025, compared to 94.5 per cent in 2024<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Adjusted EBITDA<sup>(1)<\/sup> of $238 million, compared to $315 million for the same period in 2024<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Free Cash Flow (FCF)<sup>(1)<\/sup> of $105 million, or $0.35 per share, compared to $131 million, or $0.44 per share, for the same period in 2024<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Adjusted earnings before income taxes<sup>(1)<\/sup> of $17 million, compared to $102 million, for the same period in 2024<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Cash flow from operating activities of $251 million, or $0.85 per share, compared to $229 million, or $0.77 per share, for the same period in 2024<\/li>\n<li style=\"margin-bottom:6pt;text-align:justify\">Net loss attributable to common shareholders<sup>(1)<\/sup> of $62 million, or $0.20 per share, compared to net loss attributable to common shareholders of $36 million, or $0.12 per share, for the same period in 2024<\/li>\n<\/ul>\n<p>\n        <strong>Third Quarter 2025 Operational and Financial Highlights<\/strong>\n      <\/p>\n<table style=\"border-bottom: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$ millions, unless otherwise stated<\/strong><br \/>\n            \n          <\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Nine Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Sept. 30,<br \/>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">Sept. 30,<br \/>2024<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Sept. 30,<br \/>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">Sept. 30,<br \/>2024<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\n            <strong>Operational information<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Availability (%)<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>92.7<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">94.5<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>93.1<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">92.5<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Production (GWh)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>6,151<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,712<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>17,796<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">16,612<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Select financial information<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Revenues<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>615<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">638<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,806<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2,167<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Adjusted EBITDA<sup>(1)(2)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>238<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">315<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>857<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">973<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Adjusted earnings before income taxes<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>17<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">102<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>167<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">358<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">(Loss) earnings before income taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(53<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(99<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">370<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Adjusted net (loss) earnings attributable to common shareholders<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(8<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">35<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>76<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">233<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Net (loss) earnings attributable to common shareholders<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(62<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(36<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(128<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">242<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Cash flows<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cash flow from operating activities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>251<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">229<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>415<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">581<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Funds from operations<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>156<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">191<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>587<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">681<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Free cash flow<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>105<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">131<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>421<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">529<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Per share<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Adjusted net (loss) earnings attributable to common shareholders per share<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.02<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.12<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.26<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.77<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Net (loss) earnings per share attributable to common shareholders, basic and diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.20<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.12<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.43<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.80<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cash flow from operating activities per share<sup>(3)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.85<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.77<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.40<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.92<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Funds from operations per share<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.53<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.65<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.98<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2.25<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">FCF per share<sup>(1)<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.35<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.44<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.42<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1.75<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Dividends declared per common share<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.065<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.060<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.130<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">0.120<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;vertical-align: bottom\">Weighted average number of common shares outstanding<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>297<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">296<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>297<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">303<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>\u00a0<br \/>Segmented Financial Performance<\/strong>\n      <\/p>\n<table style=\"border-bottom: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n<p>            <strong>$ millions<\/strong><br \/>\n            \n          <\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Nine Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Sept. 30,<br \/>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">Sept. 30,<br \/>2024<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Sept. 30,<br \/>2025<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">Sept. 30,<br \/>2024<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-top: solid black 1pt;vertical-align: bottom\">Hydro<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>73<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">89<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>246<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">259<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Wind and Solar<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>45<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">44<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>236<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">221<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Gas<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>110<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">141<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>342<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">408<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Energy Transition<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">34<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>84<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">63<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Energy Marketing<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>17<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>64<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">120<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Corporate<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(35<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(35<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(115<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(98<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">Total adjusted EBITDA<sup>(1)(2)<\/sup><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>238<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">315<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>857<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">973<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">Adjusted earnings before income taxes<sup>(1)<\/sup><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>17<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">102<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>167<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">358<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">(Loss) earnings before income taxes<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(53<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(99<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">370<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">Adjusted net (loss) earnings attributable to common shareholders<sup>(1)<\/sup><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(8<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">35<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>76<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">233<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">Net (loss) earnings attributable to common shareholders<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(62<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(36<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(128<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">242<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>1. These are non-IFRS measures and ratios, which are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. We believe that presenting these items from period to period provides management and investors with the ability to evaluate (loss) earnings and cash flow trends more readily in comparison with prior periods\u2019 results. Please refer to the Non-IFRS and supplementary financial measures section of this news release for further discussion of these items.<\/em><br \/>\n        <br \/>\n        <em>2. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.<\/em><br \/>\n        <br \/>\n        <em>3. Represents a supplementary financial measure and is calculated as Cash flow from operating activities for the period divided by the weighted average number of common shares\u00a0outstanding during the period.<\/em>\n      <\/p>\n<p>\n        <strong>Key Business Developments<\/strong>\n      <\/p>\n<p>\n        <strong>Chief Executive Officer Succession<\/strong>\n      <\/p>\n<p align=\"justify\">On Nov. 6, 2025, the Company announced that John Kousinioris, President and Chief Executive Officer and a Director of TransAlta, plans to retire effective April 30, 2026. Concurrent with this announcement, the Board of Directors (Board) has appointed Joel Hunter, TransAlta\u2019s Executive Vice President, Finance and Chief Financial Officer, to succeed Mr. Kousinioris as President and Chief Executive Officer and be nominated to join the Board effective April 30, 2026. Mr. Kousinioris has agreed to serve as a strategic advisor to Mr. Hunter and the Board for a period of six months following his retirement. The Company\u2019s Chief Financial Officer successor will be announced in the coming months.<\/p>\n<p>\n        <strong>Demand Transmission Service Contract <\/strong>\n      <\/p>\n<p align=\"justify\">Subsequent to the quarter, the Company entered into a 230 MW Demand Transmission Service Contract with the AESO, representing the full allocation awarded to the Company through Phase I of the AESO&#8217;s Data Centre Large Load Integration Program.<\/p>\n<p>\n        <strong>Completion of Required Divestitures<\/strong>\n      <\/p>\n<p align=\"justify\">On Aug. 1, 2025, the Company completed the sale of its 100 per cent interest in the 48 MW Poplar Hill facility, followed by the completion of the sale of its 50 per cent interest in the 97 MW Rainbow Lake facility on Oct. 2, 2025. Both divestitures were required by the consent agreement entered into with the federal Competition Bureau as part of its regulatory approval for the Company&#8217;s acquisition of Heartland Generation. Energy Capital Partners is entitled to receive the proceeds from the sale of both facilities, net of certain adjustments, following completion of the divestitures.<\/p>\n<p>\n        <strong>Credit Facility Extension<\/strong>\n      <\/p>\n<p align=\"justify\">On July 16, 2025, the Company executed agreements to extend its committed credit facilities totalling $2.1 billion with a syndicate of lenders. The revised agreements reduced the Syndicated facility size from $1.95 to $1.90 billion, and extended its maturity from June 30, 2028 to June 30, 2029. The bilateral credit facilities of $240 million were extended by one year to June 30, 2027.<\/p>\n<p>\n        <strong>Conference call and webcast<\/strong>\n      <\/p>\n<p align=\"justify\">TransAlta will host a conference call and webcast at 9:00 a.m. MST (11:00 a.m. EST) today, Nov. 6, 2025, to discuss our third quarter 2025 results. The call will begin with comments from John Kousinioris, President and Chief Executive Officer, and Joel Hunter, EVP Finance and Chief Financial Officer, followed by a question-and-answer period.<\/p>\n<p>\n        <strong>Third Quarter 2025 Conference Call<\/strong>\n      <\/p>\n<p>\n        <strong>Webcast link: <\/strong><br \/>\n        <strong><br \/>\n          <u><br \/>\n            <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=An_4pkWbze_G9YBV7MepV-FEmbbutnvnRcwhmqpjFy2_XA1XULmMZ4x1iHkno2k15EosulwnjTqHAg9MA3xt7q0mm_V_N_zmvmzA4XpS3KV_pCDn4RPb9fuZUqvKMVknrj2rpbnYmJTxIMUYp8tf8uOIjni0be6tVZ4qAZJ8a4g=\" rel=\"nofollow\" target=\"_blank\">https:\/\/edge.media-server.com\/mmc\/p\/icv44oxf<\/a><br \/>\n          <\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">To access the conference call via telephone, please register ahead of time using the call link here: <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=An_4pkWbze_G9YBV7MepV3jrVcrsS6oYevQPgrFFR_v0budEKOopgq0zu4KCT9GikjCVWVoLRuCkOTaaeOMdyqqxvYBOiDlTMf7Q1ngvE8y0YjeTFo4oQJjvsTTa9lcuUXSMm5eAgxofwl3gIlJCsp_6A1qwT8T0KML7LwLRk0tNrbpiHUMI8cFiGMztzyiSVW7Fsphw5qu3PQF22ajhd0bewODmnNkBaQ50Nk3YAc38uHOH4NZbja4qs_z846Xw\" rel=\"nofollow\" target=\"_blank\">https:\/\/register-conf.media-server.com\/register\/BI4080fa963ddc4e2cbda6151735c3a810<\/a><\/u>. Once registered, participants will have the option of 1) dialing into the call from their phone (via a personalized PIN); or 2) clicking the \u201cCall Me\u201d option to receive an automated call directly to their phone.<\/p>\n<p align=\"justify\">If you are unable to participate in the call, the replay will be accessible at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=An_4pkWbze_G9YBV7MepV-FEmbbutnvnRcwhmqpjFy2_XA1XULmMZ4x1iHkno2k13ewiHTAtyAH7cUAzhay-Q-EiaM-IGddxNBsllqrSdM7fK1YDvahDBk4BsSSO1AIvqsFVxaRF_WoGoAfoDTuujz-gD6QihIJ3XyR7-kIoBNU=\" rel=\"nofollow\" target=\"_blank\"><u>https:\/\/edge.media-server.com\/mmc\/p\/icv44oxf<\/u><\/a>. A transcript of the broadcast will be posted on TransAlta\u2019s website once it becomes available.<\/p>\n<p>TransAlta is in the process of filing its unaudited interim Consolidated Financial Statements and accompanying notes, as well as the associated Management\u2019s Discussion &amp; Analysis (MD&amp;A). These documents will be available today on the Investors section of TransAlta\u2019s website at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=z58QDOZmlD7AmJGdRRTpMqpe8r82B64tCoSvJLdWyDc-V3t2kp1kkSYPZ2gqir7YdE-j6wml5TRKgNsVNaPjrEmkCPd6fKtscom_3-jQyBw=\" rel=\"nofollow\" target=\"_blank\">www.transalta.com<\/a><\/u>\u00a0or through SEDAR+ at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HoXKXz9rCR9JQeFNC92Lz10YGu0lvz9PMtKKEu8Kyi-lsASbDnXe-PigzbYHe46TZZdS65KU9DGuTAL4Y7ufEEwKJHKu0MzybbwA7TacmA=\" rel=\"nofollow\" target=\"_blank\">www.sedarplus.ca<\/a><\/u>\u00a0and with the U.S. Securities and Exchange Commission on EDGAR at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HoXKXz9rCR9JQeFNC92L283mW4I808kx-70w-6Bs7vOrhkq19xphUkIa8rZ9Zw8MIr-3pyKYVp-A1sL_a3wkw==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a><\/u>.<\/p>\n<p>\n        <strong>About TransAlta Corporation: <\/strong>\n      <\/p>\n<p align=\"justify\">TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada\u2019s largest producers of wind power and Alberta\u2019s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.<\/p>\n<p align=\"justify\">For more information about TransAlta, visit our web site at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zZTR7Rp7JeC71-aVdpCdGzMuH_bBq1FK1KvdpcKCWwiFYdnMLhww4OILXtFI9m4RIDrVVk_BL7QFT8Id_sAfEg==\" rel=\"nofollow\" target=\"_blank\"><u>transalta.com<\/u><\/a>.<\/p>\n<p>\n        <strong>Cautionary Statement Regarding Forward-Looking Information <\/strong>\n      <\/p>\n<p align=\"justify\">This news release includes &#8220;forward-looking information,&#8221; within the meaning of applicable Canadian securities laws, and &#8220;forward-looking statements,&#8221; within the meaning of applicable United States securities laws, including the Private Securities Litigation Reform Act of 1995 (collectively referred to herein as &#8220;forward-looking statements&#8221;). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;forecast&#8221;, &#8220;continue&#8221; or other similar words. In particular, this news release contains forward-looking statements about the following, among other things: our 2025 Outlook; the status of data centre projects, including the anticipated execution of a data centre memorandum of understanding; the status of negotiations on conversion opportunities at Centralia; the anticipated execution of a definitive agreement with our customer for the full capacity of Centralia Unit 2, including the timing thereof; and the timing of our Investor Day.<\/p>\n<p align=\"justify\">Forward-looking statements and future-oriented financial information in this news release are intended to provide the reader information about management&#8217;s current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are subject to important risks and uncertainties and are based on certain key assumptions. All forward-looking statements reflect TransAlta&#8217;s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking statements, you should not put undue reliance on forward-looking statements and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking statements due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to our most recent MD&amp;A, which forms part of this news release, and the 2024 Integrated Report, including the section titled &#8220;<em>Governance and Risk Management<\/em>&#8221; in our MD&amp;A for the year ended December 31, 2024, filed under TransAlta&#8217;s profile on SEDAR+ at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HoXKXz9rCR9JQeFNC92L4JpeaW-yFldkuWGdCqcFFqJrWCc_6b5mE3ygkA8rN0ZG6nGQiEbhjtzHgMqbNzIjNDItkcpGh5SddT6hvyKBuM=\" rel=\"nofollow\" target=\"_blank\">www.sedarplus.ca<\/a><\/u>\u00a0and with the U.S. Securities and Exchange Commission at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HoXKXz9rCR9JQeFNC92L8-UaKSJtIuClGO_m2vw1dmGVY70eKwlV8AMAfU-MnBNHehYCslZl235tweUssjV_A==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a><\/u>.<\/p>\n<p>\n        <strong>Non-IFRS and Supplementary Financial Measures<\/strong>\n      <\/p>\n<p align=\"justify\">This news release contains references to the following Non-IFRS measures: Adjusted EBITDA; Free Cash Flow (FCF) (including per share); Adjusted earnings (loss) before income taxes; Adjusted net earnings (loss) attributable to common shareholders (including per share) and Funds from operations (FFO) (including per share). Non-IFRS measures do not have standardized meanings under IFRS and are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from, as an alternative to, or more meaningful than, our IFRS results. We use these measures to evaluate our performance and the performance of our business segments and believe that these measures, read together with our IFRS measures, provide readers with a better understanding of how management assesses results. Presenting these measures from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison to prior periods&#8217; results. These measures are calculated by adjusting certain IFRS measures for certain items we believe are not reflective of our ongoing operations in a period and are calculated on a consistent basis from period to period and are adjusted for specific items in each period, unless stated otherwise. Refer to the Non-IFRS and Supplementary Measures section of our most recent MD&amp;A, which forms part of this news release, for more information about these measures including, where applicable, reconciliations to measures calculated in accordance with IFRS.<\/p>\n<p align=\"justify\">Note: All financial figures are in Canadian dollars unless otherwise indicated.<\/p>\n<p align=\"justify\">\n        <strong>For more information:<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <em>Investor Inquiries:<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <em>Media Inquiries:<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Phone: 1-800-387-3598 in Canada and U.S.<\/td>\n<td style=\"vertical-align: bottom\">Phone: 1-855-255-9184<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Email: investor_relations@transalta.com<\/td>\n<td style=\"vertical-align: bottom\">Email: ta_media_relations@transalta.com<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU3MDM4MiM3MjQ4NDgyIzIyODU2NTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZWFkMTgxOTQtODgzMC00NGJjLThiMjMtMTc1ZTNjMDQxZjJhLTEyOTcyMDEtMjAyNS0xMS0wNi1lbg==\/tiny\/TransAlta-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CALGARY, Alberta, Nov. 06, 2025 (GLOBE NEWSWIRE) &#8212; TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the third quarter ended Sept. 30, 2025. \u201cOur business delivered solid operational performance during the third quarter, demonstrating the Company&#8217;s resilience in the face of challenging market conditions. Our Alberta portfolio&#8217;s hedging strategy and active asset optimization continued to generate realized prices well above spot prices, while availability remained high across the fleet. Although Alberta power prices remain suppressed, our assets continue to perform well, and we remain confident in achieving results within our 2025 Outlook range,\u201d said John Kousinioris, President and Chief Executive Officer. \u201cWe are pleased with the continued progress on a number of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;TransAlta Reports Third Quarter 2025 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-906934","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TransAlta Reports Third Quarter 2025 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TransAlta Reports Third Quarter 2025 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CALGARY, Alberta, Nov. 06, 2025 (GLOBE NEWSWIRE) &#8212; TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the third quarter ended Sept. 30, 2025. \u201cOur business delivered solid operational performance during the third quarter, demonstrating the Company&#8217;s resilience in the face of challenging market conditions. Our Alberta portfolio&#8217;s hedging strategy and active asset optimization continued to generate realized prices well above spot prices, while availability remained high across the fleet. Although Alberta power prices remain suppressed, our assets continue to perform well, and we remain confident in achieving results within our 2025 Outlook range,\u201d said John Kousinioris, President and Chief Executive Officer. \u201cWe are pleased with the continued progress on a number of &hellip; Continue reading &quot;TransAlta Reports Third Quarter 2025 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-06T17:35:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU3MDM4MiM3MjQ4NDgyIzIyODU2NTE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"TransAlta Reports Third Quarter 2025 Results\",\"datePublished\":\"2025-11-06T17:35:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/\"},\"wordCount\":2198,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTU3MDM4MiM3MjQ4NDgyIzIyODU2NTE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/transalta-reports-third-quarter-2025-results\\\/\",\"name\":\"TransAlta Reports Third Quarter 2025 Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/","og_locale":"en_US","og_type":"article","og_title":"TransAlta Reports Third Quarter 2025 Results - Market Newsdesk","og_description":"CALGARY, Alberta, Nov. 06, 2025 (GLOBE NEWSWIRE) &#8212; TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the third quarter ended Sept. 30, 2025. \u201cOur business delivered solid operational performance during the third quarter, demonstrating the Company&#8217;s resilience in the face of challenging market conditions. Our Alberta portfolio&#8217;s hedging strategy and active asset optimization continued to generate realized prices well above spot prices, while availability remained high across the fleet. Although Alberta power prices remain suppressed, our assets continue to perform well, and we remain confident in achieving results within our 2025 Outlook range,\u201d said John Kousinioris, President and Chief Executive Officer. \u201cWe are pleased with the continued progress on a number of &hellip; Continue reading \"TransAlta Reports Third Quarter 2025 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/","og_site_name":"Market Newsdesk","article_published_time":"2025-11-06T17:35:32+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU3MDM4MiM3MjQ4NDgyIzIyODU2NTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"TransAlta Reports Third Quarter 2025 Results","datePublished":"2025-11-06T17:35:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/"},"wordCount":2198,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU3MDM4MiM3MjQ4NDgyIzIyODU2NTE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/transalta-reports-third-quarter-2025-results\/","name":"TransAlta Reports Third Quarter 2025 Results - 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