TransAlta Corp 2025年度报告

OR☒ANNUAL REPORT PURSUANT TO SECTION13(a)OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 001-15214 (Province or other jurisdiction of incorporation or organization) 4911(Primary Standard Industrial Classification Code Number (if applicable)) Not Applicable(I.R.S Employer Identification Number (if applicable)) 1400, 1100 - 1st Street S.E.,Calgary, Alberta, Canada, T2G 1B1,(403) 267-7110 TransAlta Centralia Generation LLC913 Big Hanaford Road, Centralia, Washington 98531, (360) 736-9901(Name, address (including zip code) and telephone number (including area code)of agent for service in the United States) None Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or15(d)of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicateby check mark if the registrant has elected not to use the extended transition period for complying with any new †The term “new or revised financial accounting standard” refers to any update issued by the FinancialAccounting Standards Board to its Accounting Standards Codification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatementsof the registrant included in the filing reflect the correction of an error to previously issued financial Indicate by check mark whether any of those error corrections are restatements that require a recoveryanalysis of incentive-based compensation received by an of the registrant's executive officers during the INCORPORATION BY REFERENCE This annual report on Form40-F, including the exhibits hereto, are incorporated by reference into the followingregistration statements of TransAlta Corporation ("TransAlta" or the "Company") under the Securities Act of FormRegistration No.S-8333-72454S-8333-101470S-8333-236894S-8333-260935F-10333-292019 CONSOLIDATED AUDITED ANNUAL FINANCIAL STATEMENTSAND MANAGEMENT’S DISCUSSION& ANALYSIS A.Consolidated Audited Annual Financial Statements For consolidated audited annual financial statements for the year ended Dec. 31, 2025, including the report ofthe independent registered public accounting firm with respect thereto, see Exhibit99.3 incorporated byreference herein. B.Management’s Discussion and Analysis For management’s discussion and analysis, see Exhibit99.2 incorporated by reference herein. DISCLOSURE CONTROLS AND PROCEDURES As required by Rule 13a-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),management has evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer,the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report.Disclosure controls and procedures refer to controls and other procedures designed to ensure that informationrequired to be disclosed in the reports we file or submit under the Exchange Act are recorded, processed,summarized, and reported within the time periods specified in the rules and forms of the Securities andExchange Commission (the "Commission"). Disclosure controls and procedures include, without limitation, Based on the foregoing evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that,as of Dec. 31, 2025, the end of the period covered by this report, our disclosure controls and procedures were MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROLOVER FINANCIAL REPORTING Management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting refers to a process designed by, or under the supervision of, our ChiefExecutive Officer and Chief Financial Officer and effected by our board of directors, management and otherpersonnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions •provide reasonable assurance that transactions are recorded as necessary to permit preparation of financialstatementsin accordance with generally accepted accounting principles,and that our receipts and provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or Management evaluated the effectiveness of our internal control over financial reporting as of Dec. 31, 2025using the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 framework. andlimitations of management’s conclusions are described below.See“Limitations and Scope of Our Independent regi