<SEC-DOCUMENT>0001144800-22-000017.txt : 20220805
<SEC-HEADER>0001144800-22-000017.hdr.sgml : 20220805
<ACCEPTANCE-DATETIME>20220805070517
ACCESSION NUMBER:		0001144800-22-000017
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20220630
FILED AS OF DATE:		20220805
DATE AS OF CHANGE:		20220805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15214
		FILM NUMBER:		221138569

	BUSINESS ADDRESS:	
		STREET 1:		110 12TH AVE SW BOX 1900 STATION M
		STREET 2:		CALGARY ALBERTA T2P 2MI
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P2M1
		BUSINESS PHONE:		403-267-4724

	MAIL ADDRESS:	
		STREET 1:		110-12TH AVENUE SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P2M1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a20220630tac6k.htm
<DESCRIPTION>6-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="i5cad995a15454c5187d653aa90e9a9a7_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">FORM&#160;6-K</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Washington, D.C. 20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">For the month of August, 2022</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Commission File Number 001-15214</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">TRANSALTA CORPORATION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(Translation of registrant&#8217;s name into English)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">110 - 12th&#160;Avenue S.W., Box 1900, Station &#8220;M&#8221;, Calgary, Alberta, T2P 2M1</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(Address of principal executive offices)</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover Form&#160;20-F or Form&#160;40-F.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Form 20-F____</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Form 40-F </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">  X  </font></div></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form&#160;6-K in paper as permitted by Regulation S-T Rule&#160;101(b)(1)&#58;_____ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form&#160;6-K in paper as permitted by Regulation S-T Rule&#160;101(b)(7)&#58;_____ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The documents listed below in this Section and filed as Exhibits 13.1 and 13.2 to this form 6-K are hereby filed with the Securities and Exchange Commission for the purpose of being and hereby are incorporated by reference into the following registration statements filed by TransAlta Corporation under the Securities Act of 1933, as amended&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">Form</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration:underline">Registration No</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">.</font></div><div style="padding-right:-2.25pt;text-align:center"><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">S-8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333-72454</font></div><div style="padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">S-8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333-101470</font></div><div style="padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">S-8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333-236894</font></div><div style="padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">S-8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333-260935</font></div><div style="padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">F-10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;333-257098</font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Exhibits 31.1, 31.2, 32.1, and 32.2 to this report, furnished on Form 6-K, are furnished, not filed, and will not be incorporated by reference into any registration statement filed by the registrants under the Securities Act of 1933, as amended.  </font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Signatures</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">TRANSALTA CORPORATION</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 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Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Date&#58; August&#160;4, 2022</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">EXHIBIT&#160;INDEX</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:81.433%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">13.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Consolidated comparative interim unaudited financial statements of the registrant for the three and six month periods ended June 30, 2022.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times 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pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">31.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">32.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Certification of Chief Executive Officer regarding Periodic Report Containing Financial Statements.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">32.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Certification of Chief Financial Officer regarding Periodic Report Containing Financial Statements.</font></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>2
<FILENAME>a20220630tacex131consolida.htm
<DESCRIPTION>EX-13.1
<TEXT>
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<title>Document</title></head><body><div id="ia752fee51d7646e2bff4f62ae12f36ac_1"></div><div style="min-height:72pt;width:100%"><div style="padding-left:22.5pt"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:120%"> </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Condensed Consolidated Financial Statements</font></div><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_4"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Earnings (Loss)</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(in millions of Canadian dollars except per share amounts)</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.960%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Unaudited</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues (Note 3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power (Note 4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance (Note 4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">218</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">362&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">696</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operations, maintenance and administration (Note 4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">272&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset impairment charge (reversal) (Note 5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net other operating income (Note 6)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">321</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity income </font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net interest expense (Note 7)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(62)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(123)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on the sale of assets and other (Note 14)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax expense (Note 8)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net earnings (loss)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta shareholders</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interests (Note 9)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net earnings (loss) attributable to TransAlta shareholders</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Preferred share dividends (Note 20)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to common shareholders</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(80)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">106</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted average number of common shares 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style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">271</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.39</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.16)</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">See accompanying notes.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:right"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F1</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_7"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Condensed Consolidated Financial Statements</font></div><div style="text-align:right"><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Comprehensive Income (Loss)</font></div><div><font 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:2.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Unaudited</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net earnings (loss)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other comprehensive income (loss)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net actuarial gains on defined benefit plans, net of tax</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gains (losses) on derivatives designated as cash flow hedges, net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total items that will not be reclassified subsequently to net earnings</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on translating net assets of foreign operations, net of tax</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Gains (losses) on financial instruments designated as hedges of foreign operations, net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Losses on derivatives designated as cash flow hedges, net of tax</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(69)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(151)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(131)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reclassification of gains on derivatives designated as cash flow hedges to net earnings (loss), net of tax</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(26)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total items that will be reclassified subsequently to <br>net loss</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(77)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(131)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(178)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(180)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other comprehensive loss</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(58)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(143)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total comprehensive income (loss)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(117)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(114)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total comprehensive income (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta shareholders</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(102)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(135)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">44</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interests (Note 9)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(117)</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(114)</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:130%">(1) Net of income tax expense of $5 million and $11 million for the three and six months ended June 30, 2022 (June 30, 2021 &#8212; nil and $11 million expense).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:130%">(2) Net of income tax recovery of $22 million and $44&#160;million for the three and six months ended June 30, 2022 (June 30, 2021 &#8212; $28 million and $36 million recovery).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Net of reclassification of income tax expense of $1 million and $5&#160;million for the three and six months ended June 30, 2022 (June 30, 2021 &#8212; $2 million and $7 million expense).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">See accompanying notes.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F2</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_10"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Condensed Consolidated Financial Statements</font></div><div style="text-align:right"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Financial Position</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(in millions of Canadian dollars)</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.015%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Unaudited</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current assets</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">898</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">947&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restricted cash (Note 18)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade and other receivables (Note 10)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,027</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">651&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid expenses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management assets (Note 11 and 12)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">603</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventory</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">156</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">167&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets held for sale</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,815</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,197&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments (Note 13)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term portion of finance lease receivables &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">158</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management assets (Note 11 and 12)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">308</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">399&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment (Note 14)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,405</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,389&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accumulated depreciation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,260)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,069)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160; </font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,320&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Right-of-use assets &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets (Note 15)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">259</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">464</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">463&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred income tax assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">59</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets (Note 16)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,226&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities (Note 12)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,146</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of decommissioning and other provisions (Note 17)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management liabilities (Note 11 and 12)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">588</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of contract liabilities (Note 21)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income taxes payable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends payable (Note 19 and 20)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of long-term debt and lease liabilities (Note 18)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">690</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">844&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,516</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,931&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current liabilities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facilities, long-term debt and lease liabilities (Note 18)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,489</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,423&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable securities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">737</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">735&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Decommissioning and other provisions (Note 17)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">588</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred income tax liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">353</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management liabilities (Note 11 and 12)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">205</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Defined benefit obligation and other long-term liabilities &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">212</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,633&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Common shares (Note 19)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,893</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,901&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Preferred shares (Note 20)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">942</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">942&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contributed surplus</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deficit</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,363)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,453)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accumulated other comprehensive income &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">74</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity attributable to shareholders</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,574</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,582&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interest (Note 9)</font></td><td colspan="2" 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,474</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,593&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities and equity</font></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,226&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Commitments and contingencies (Note 21) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes.</font></div><div style="height:50.4pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F3</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_13"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consolidated Financial Statements</font></div><div style="text-align:right"><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Changes in Equity</font></div><div style="text-indent:2.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(in millions of Canadian dollars)</font></div><div style="text-indent:2.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.182%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.073%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.919%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.831%"></td><td style="width:0.1%"></td></tr><tr style="height:18pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Unaudited</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accumulated other<br>comprehensive<br>income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Attributable <br>to non-controlling<br>interests</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6 months ended June 30, 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colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">942&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,453)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">146&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,582&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,011&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,593&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income (loss)&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net losses on translating net <br>&#160;&#160;assets of foreign operations, <br>&#160;&#160;net of hedges and tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net losses on derivatives <br>&#160;&#160;designated as cash flow hedges, <br>&#160;&#160;net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(169)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(169)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(169)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net actuarial gains on defined <br>&#160;&#160;&#160;benefits plans, net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Intercompany FVOCI investments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">70</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">70</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(70)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Total comprehensive income (loss)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(72)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">44</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(39)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Common share dividends paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Preferred share dividends paid</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares purchased under normal course issuer bid (&#34;NCIB&#34;) program</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(Note 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Effect of share-based payment plans</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Distributions paid and payable, to </font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;&#160;non-controlling interests (Note 9)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(72)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(72)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance, June 30, 2022</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,893</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">942</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2,363)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">74</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,574</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">900</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,474</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6 months ended June 30, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Common<br>shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Preferred<br>shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Contributed<br>surplus</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Deficit</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Accumulated other<br>comprehensive<br>income</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Attributable to<br>shareholders</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Attributable to non-controlling<br>interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Balance, Dec. 31, 2020</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,896&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">942&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1,826)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">302&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,352&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,084&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,436&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net earnings (loss)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income (loss)&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net losses on translating net <br>&#160;&#160;assets of foreign operations, <br>&#160;&#160;net of hedges and tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net losses on derivatives <br>&#160;&#160;designated as cash flow hedges, <br>&#160;&#160;net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(159)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(159)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(158)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net actuarial gains on <br>&#160;&#160;defined benefits plans, net of tax</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Intercompany FVOCI investments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Total comprehensive income (loss)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(105)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(137)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(114)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Common share dividends</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Preferred share dividends</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Effect of share-based payment  plans</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Distributions paid and payable, to </font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;&#160;non-controlling interests (Note 9)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(67)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(67)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Balance, June 30, 2021</font></td><td colspan="2" style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,193&#160;</font></td><td style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,040&#160;</font></td><td style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,233&#160;</font></td><td style="border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3pt;font-style:italic;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">See accompanying notes.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F4</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_16"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Condensed Consolidated Financial Statements</font></div><div style="text-align:right"><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Cash Flows</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(in millions of Canadian dollars)</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.279%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Operating activities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Net earnings (loss)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(59)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">232</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">377&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Gain on sale of assets and other (Note 14)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(33)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Accretion of provisions (Note 7)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Decommissioning and restoration costs settled (Note 17)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Deferred income tax expense (Note 8)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">48</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Unrealized loss (gain) from risk management activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(40)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(33)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Unrealized foreign exchange loss (gain) </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(16)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Provisions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Asset impairment charges (reversals) (Note 5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Equity loss (income), net of distributions from investments </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other non-cash items</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Cash flow from operations before changes in working capital</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">131</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">208&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">298</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">393&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Change in non-cash operating working capital balances &#160;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(260)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(128)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(56)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash flow (used in) from operating activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(129)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">322</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Investing activities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Additions to property, plant and equipment (Note 14)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(119)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(201)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(217)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Additions to intangible assets (Note 15)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Restricted cash (Note 18)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">25</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(Advances) repayments in loan receivable (Note 16)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Proceeds on sale of Pioneer Pipeline (Note 14)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Proceeds on sale of property, plant and equipment</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Realized losses on financial instruments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Change in non-cash investing working capital balances</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(9)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash flow used in investing activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(94)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(10)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(166)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(121)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Financing activities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Net decrease in borrowings under credit facilities </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(114)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Repayment of long-term debt </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(59)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Dividends paid on common shares (Note 19)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Dividends paid on preferred shares (Note 20)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Repurchase of common shares under NCIB (Note 19)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Proceeds on issuance of common shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Realized gains on financial instruments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Distributions paid to subsidiaries' non-controlling interests (Note 9)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(72)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(67)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Decrease in lease liabilities </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Financing fees and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Change in non-cash financing working capital balances</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash flow used in financing activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(95)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(73)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(201)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(273)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash flow used in operating, investing and financing activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(318)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(45)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(57)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Effect of translation on foreign currency cash</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Decrease 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">703&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">898</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">642&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">898</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Cash interest paid</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">60</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">107</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">112&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">See accompanying notes.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_19"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Unaudited</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(Tabular amounts in millions of Canadian dollars, except as otherwise noted)</font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_22"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">1. Corporate Information</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Description of the Business</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">TransAlta Corporation (&#8220;TransAlta&#8221; or the &#8220;Company&#8221;) was incorporated under the </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Canada Business Corporations Act</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> in March&#160;1985. The Company became a public company in December&#160;1992. Its head office is located in Calgary, Alberta.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating Segments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In 2021, the Company realigned its current operating segments to reflect a change in how TransAlta&#8217;s President and Chief Executive Officer (the chief operating decision maker) (&#34;CODM&#34;) reviews financial information in order to allocate resources and assess performance. The primary changes were the elimination of the Alberta Thermal and the Centralia segments, and the reorganization of the North American Gas and Australia Gas segments into a new &#34;Gas&#34; segment. The Alberta Thermal facilities that have been converted to gas have been included in the Gas segment. The remaining assets previously included in Alberta Thermal, including the mining assets and those facilities not converted to gas and the remaining Centralia unit, are included in a new &#34;Energy Transition&#34; segment. No changes were made to the Hydro and Wind and Solar segments. </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">This change better aligns with the Company's long-term strategy and reflects its </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Clean Electricity Growth Plan. Refer to Note 22 for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Basis of Preparation</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These unaudited interim condensed consolidated financial statements have been prepared in compliance with International Accounting Standard (&#8220;IAS&#8221;) 34 Interim Financial Reporting using the same accounting policies as those used in the Company's most recent audited annual consolidated financial statements, except as outlined in Note 2. These unaudited interim condensed consolidated financial statements do not include all of the disclosures included in the Company&#8217;s audited annual consolidated financial statements. Accordingly, they should be read in conjunction with the Company&#8217;s most recent audited annual consolidated financial statements which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The unaudited interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries that it controls. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The unaudited interim condensed consolidated financial statements have been prepared on a historical cost basis, except for certain financial instruments, which are stated at fair value. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These unaudited interim condensed consolidated financial statements reflect all adjustments which consist of normal recurring adjustments and accruals that are, in the opinion of management, necessary for a fair presentation of results. Interim results will fluctuate due to plant maintenance schedules, the seasonal demands for electricity and changes in energy prices. Consequently, interim condensed results are not necessarily indicative of annual results. TransAlta&#8217;s results are partly seasonal due to the nature of the electricity market and related fuel costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These unaudited interim condensed consolidated financial statements were authorized for issue by the Audit, Finance and Risk Committee on behalf of TransAlta's Board of Directors (the &#34;Board&#34;) on August&#160;4, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Use of Estimates and Significant Judgments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of these unaudited interim condensed consolidated financial statements in accordance with IAS 34 requires management to use judgment and make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosures of contingent assets and liabilities. These estimates are subject to uncertainty. Actual results could differ from these estimates due to factors such as fluctuations in interest rates, discount rates, foreign exchange rates, inflation and commodity prices, and changes in economic conditions, legislation and regulations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2022, the global economy continued to recover from the COVID-19 pandemic. The Russia-Ukraine conflict has set off historic policy actions and global coordination of sanctions and commitments to reduce dependency on Russian energy including natural gas. This has contributed to global supply chain disruptions, commodity price volatility and potential increases to inherent cybersecurity risk. Energy prices have strengthened due to elevated uncertainty of global oil and natural gas supply given the war in Ukraine. Recent inflationary and supply chain dynamics coupled with rising interest rates and volatility in foreign exchange rates have created an environment that requires close monitoring. Estimates to the extent to which the geopolitical events may, directly or indirectly, impact the Company's operations, financial results and conditions in future periods are also subject to significant uncertainty. Uncertainty related to COVID-19, geopolitical events and Consumer Price Index (&#34;CPI&#34;) inflation have been considered in the Company's estimates as at and for the period ended June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ended, June 30, 2022, there were changes in estimates relating to decommissioning and other provisions (Note 17), asset impairment charge (reversal) (Note 5) and defined benefit obligations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The liability for pension and post-employment benefits and associated costs included in compensation expenses are impacted by estimates related to changes in key actuarial assumptions, including discount rates. As a result of increases in discount rates, largely driven by increases in market benchmark rates, the defined benefit obligation decreased by $46&#160;million to $182&#160;million as at June 30, 2022 from $228 million as at Dec. 31, 2021. A 1 per cent increase in discount rates would have a $40 million impact on the defined benefit obligation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to Note 2(P) of the Company&#8217;s 2021 audited annual consolidated financial statements for further details on the Significant Accounting Judgments and Key Sources of Estimation Uncertainty. </font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_25"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">2. Material Accounting Policies</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company&#8217;s annual consolidated financial statements for the year ended Dec. 31, 2021, except for the adoption of new standards effective as of Jan. 1, 2022, the early adoption of standards, and interpretations or amendments that have been issued but are not yet effective. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Current Accounting Policy Changes</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On May 14, 2020, the IASB issued</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%"> Onerous Contracts &#8212; Cost of Fulfilling a Contract</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> and amendments to IAS 37 </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Provisions, Contingent Liabilities and Contingent Assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> to specify which costs to include when assessing whether a contract will be loss-making. The amendments are effective for annual periods beginning on or after Jan. 1, 2022 and the Company adopted these amendments as of Jan. 1, 2022. The amendments are effective for contracts for which an entity has not yet fulfilled all its obligations on or after the effective date. No adjustments resulted on adoption of the amendments on Jan 1, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Future Accounting Policy Changes</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Please refer to Note 3 of the audited annual 2021 consolidated financial statements for the future accounting policies impacting the Company. In the three and six months ended June 30, 2022, no additional future accounting policy changes impacting the Company were identified.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Comparative Figures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Certain comparative figures have been reclassified to conform to the current period&#8217;s presentation. 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Revenue</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(223)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">66</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(133)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from merchant sales</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">371</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenue</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">93</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 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style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:31.484%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.536%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3 months ended June 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Wind and<br>Solar</font></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">143&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Environmental attributes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from contracts with customers</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td 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style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from derivatives and</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;other trading activities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from merchant sales</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">240&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues from contracts with customers</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Timing of revenue recognition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;At a point in time</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Over time</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue from contracts with customers</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) This segment includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) This segment includes the segment previously known as Centralia and the facilities not converted to gas previously in the Alberta Thermal segment. Refer to Note 1 for further details. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Total rental income, including contingent rent and other long-term contracts that meet the criteria of operating leases. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Represents realized and unrealized gains or losses from hedging and derivative positions. Wind and Solar has been revised to present revenue classifications consistent with the current period.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Includes government incentives and other miscellaneous.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.111%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.717%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%"> 6 months ended June 30, 2022</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Wind and<br>Solar</font></td><td colspan="3" style="padding:2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">82</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">692</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">561</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">202</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Over time</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">216</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">389</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) This segment includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) This segment includes the segment previously known as Centralia and the facilities not converted to gas previously in the Alberta Thermal segment. Refer to Note 1 for further details. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Total rental income, including contingent rent related to other long-term contracts that meet the criteria of operating leases. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Represents realized and unrealized gains or losses from hedging and derivative positions. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Includes other miscellaneous revenue.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:31.484%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.536%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6 months ended June 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Wind and<br>Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.87pt;font-weight:400;line-height:100%;position:relative;top:-2.62pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Corporate and Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="6" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues from contracts with  customers</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Power and other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">172&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">307&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Environmental attributes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from contracts with customers</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">172&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">316&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from leases</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from derivatives and</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;other trading activities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from merchant sales</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">425&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">166&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">805&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">554&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues from contracts with customers</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Timing of revenue recognition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;At a point in time</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Over time</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue from contracts with customers</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">172&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">316&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) This segment includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) This segment includes the segment previously known as Centralia and the facilities not converted to gas previously in the Alberta Thermal segment. Refer to Note 1 for further details. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Total rental income, including contingent rent and other long-term contracts that meet the criteria of operating leases. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Represents realized and unrealized gains or losses from hedging and derivative positions. Wind and Solar has been revised to present revenue classifications consistent with the current period.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Includes other miscellaneous revenue.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Changes to Revenue Contracts</font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gas</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">During the second quarter of 2022, the Company executed contract extensions for the supply of electricity and&#47;or steam with three of its industrial customers at the Sarnia cogeneration facility. These agreements will extend the delivery term for electricity and&#47;or steam from Dec. 31, 2022 to April 30, 2031, in one case and to Dec. 31, 2032, for the other two, with all agreements being subject to certain conditions, including the Company entering into a new contract with the Ontario Independent Electricity System Operator (the &#8220;IESO&#8221;). The capacity commitments for the large industrial customers have been extended at rates comparable to current contract rates. The IESO is conducting a medium-term procurement process for capacity for 2026 and beyond for existing generation. The Company has bid into the process and is seeking to secure a contract extension for the Sarnia cogeneration facility following the end of the current IESO contract expiring on Dec. 31, 2025. The Company expects the IESO to announce the successful bids in the third quarter of 2022.  </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Wind </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On June 2, 2022, TransAlta Renewables announced that it amended and extended its current power purchase agreements with New Brunswick Power Corporation (&#34;NB Power&#34;) in respect of each of the Kent Hills 1, 2 and 3 wind facilities, representing total generating capacity of 167 MW. The amending agreements provide for a blend-and-extend of the PPAs providing NB Power with an effective 10 per cent reduction to the original contract prices from January 2023 through December 2033 and extend the original contract term for an additional 10-year period through to December 2045. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Refer to Notes 14, 16 and 18 for further discussion related to the Kent Hills wind facilities.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F10</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_31"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">4. Expenses by Nature</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Fuel, Purchased Power and Operations, Maintenance and Administrative (&#34;OM&#38;A&#34;)</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fuel and purchased power and OM&#38;A expenses classified by nature are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.476%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.236%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fuel and<br>purchased<br>power</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OM&#38;A</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and<br>purchased<br>power</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fuel and<br>purchased<br>power</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OM&#38;A</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and<br>purchased<br>power</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas fuel costs</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">135</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">257</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Coal fuel costs</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Royalty, land lease and other direct costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mine depreciation</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Salaries and benefits</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">114</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating expenses</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">144&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) During the three and six months ended June 30, 2021, $3 million and $11 million, respectively was included in coal fuel 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three and six months ended June 30, 2021, $3 and $5 million related to station service costs for the Hydro segment was reclassified from OM&#38;A to fuel and purchased power for comparative purposes. 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Refer to Note 21 for further details.</font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_34"></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">5. Asset Impairment Charge (Reversal)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has determined that assets at each facility will be grouped together to form a cash generating unit (&#34;CGU&#34;) for purposes of impairment testing. Property, Plant and Equipment (&#34;PP&#38;E&#34;) and goodwill have been allocated to CGUs to determine the carrying amount.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As part of the Company&#8217;s monitoring controls, long-range forecasts are prepared for each CGU. The long-range forecast estimates are used to assess the significance of potential indicators of impairment and provide criteria to evaluate adverse changes in operations. The Company also considers the relationship between its market capitalization and its book value, among other factors, when reviewing for indicators of impairment. When indicators of impairment are present, the Company estimates a recoverable amount (the higher of value in use and fair value less costs of disposal) for each CGU by calculating an approximate fair value less costs of disposal using discounted cash flow projections based on the Company&#8217;s long-range forecasts. The valuations used are subject to measurement uncertainty based on assumptions and inputs to the Company&#8217;s discount rates, long-range forecast, including changes to fuel costs, operating costs, capital expenditures, external power prices and useful lives of the assets extending to the last planned asset retirement in 2072.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the period end the Company recognized the following in asset impairment charges (reversals)&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.723%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kaybob Cogeneration Project</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition Facilities and Projects</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in decommissioning and restoration provisions on retired assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(51)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(93)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible asset impairment - Coal Rights</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset impairment charges (reversals)</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) During 2021, certain capital spares and vehicles at the Highvale mine were impaired as they would not be utilized in our converted gas facilities. Carrying amounts have been adjusted to the expected recoverable amount less costs of disposal.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Changes are related to changes in discount rates net of cash flow revisions. Refer to Note 17 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Impaired to nil in 2021, as no future coal will be extracted from this area of the mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Wind</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company recorded an impairment charge on three wind assets within the Wind and Solar segment, primarily as a result of increases in the discount rates. 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The recoverable amount of $30 million was estimated based on fair value less cost of disposal utilizing a discounted cash flow approach and is categorized as a Level III fair value measurement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The calculation of fair value less cost of disposal for all of the above facilities is most sensitive to the following assumptions&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.023%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Contract and <br>Merchant discount rates</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar </font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canada</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6.4 and 7.1 per cent</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States (&#34;US&#34;)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6.5 and 7.3 per cent</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canada</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5.9 and 6.4 per cent</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:112%">2021</font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gas </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Energy Transfer Canada, formerly SemCAMS Midstream ULC (&#34;ET Canada&#34;) purported to terminate the agreements related to the development and construction of the Kaybob Cogeneration Project. As a result, during the first quarter of 2021, the Company recorded an impairment of $27 million in the Corporate segment as this facility was not yet operational. The recoverable amount was based on estimated fair value less costs of disposal of reselling the equipment purchased to date. TransAlta has commenced an arbitration seeking compensation for ET Canada's wrongful termination of the agreements. ET Canada seeks a declaration that the Agreements were lawfully terminated. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F12</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_106"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">6. Net Other Operating Income</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net other operating income includes the following&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.723%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta Off-Coal Agreement</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liquidated damages recoverable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Insurance recoveries</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net other operating income</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Off-Coal Agreement </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company receives payments from the Government of Alberta for the cessation of coal-fired emissions on or before Dec. 31, 2030. Under the terms of the agreement, the Company receives annual cash payments on or before July 31 of approximately $40 million ($37 million, net of the non-controlling interest related to Sheerness), which commenced Jan. 1, 2017, and will terminate at the end of 2030.&#160;Refer to Note 9 in the 2021 audited annual consolidated financial statements for further details. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Liquidated Damages Recoverable </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ended June&#160;30, 2022, the Company recorded $3 million and $10 million, respectively, related to requirements to be met by the contractor on turbine availability.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Insurance Recoveries</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ending June&#160;30, 2022, the Company recognized insurance proceeds of $7 million related to the replacement costs for the single collapsed tower at the Kent Hills wind facilities.</font></div><div><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_37"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">7. Net Interest Expense</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The components of net interest expense are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.519%"><tr><td style="width:1.0%"></td><td style="width:47.370%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on debt</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on exchangeable debentures </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on exchangeable preferred shares</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized interest (Note 14)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facility fees, bank charges and other interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax shield on tax equity financing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion of provisions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net interest expense</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred income tax expense (recovery) related to the origination and reversal of temporary differences</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">148</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred income tax expense (recovery) arising from the writedown (reversal of write-down) of deferred income tax assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">38</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(93)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Income tax 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred income tax expense</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Income tax expense</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1)&#160;During the three and six months ended June 30, 2022, the Company recorded a write-down of $38 million and a write-down reversal of deferred tax assets of $93 million respectively (June 30, 2021 &#8212; $32 million and $48 million write-down). 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Non-Controlling Interests</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company&#8217;s subsidiaries with significant non-controlling interests are TransAlta Renewables and TransAlta Cogeneration L.P. 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style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Cogeneration L.P.</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total comprehensive income 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(52)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(39)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash distributions paid to non-controlling interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Cogeneration L.P.</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">72</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.446%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity attributable to non-controlling interests</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Cogeneration L.P.</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49.99&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39.9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade accounts receivable</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">548</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion of finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40</font></td></tr><tr><td colspan="3" 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receivables</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,027</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">651&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_46"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">11. Financial Instruments</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Financial Assets and Liabilities &#8211; Measurement</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial assets and financial liabilities are measured on an ongoing basis at fair value, or amortized cost.</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Fair Value of Financial Instruments</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">I. Level I,&#160;II and III Fair Value Measurements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Level I,&#160;II and III classifications in the fair value hierarchy utilized by the Company are defined below. 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Level I</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair values are determined using inputs that are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">b. Level II</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair values are determined, directly or indirectly, using inputs that are observable for the asset or liability.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair values falling within the Level II category are determined through the use of quoted prices in active markets, which in some cases are adjusted for factors specific to the asset or liability, such as basis, credit valuation and location differentials. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company&#8217;s commodity risk management Level II financial instruments include over-the-counter derivatives with values based on observable commodity futures curves and derivatives with inputs validated by broker quotes or other publicly available market data providers. Level II fair values are also determined using valuation techniques, such as option pricing models and interpolation formulas, where the inputs are readily observable.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In determining Level II fair values of other risk management assets and liabilities, the Company uses observable inputs other than unadjusted quoted prices that are observable for the asset or liability, such as interest rate yield curves and currency rates. 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Level III</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair values are determined using inputs for the assets or liabilities that are not readily observable.&#160;</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">For assets and liabilities that are recognized at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">There were no changes in the Company&#8217;s valuation processes, valuation techniques, and types of inputs used in the fair value measurements during the period. For additional information, refer to Note 15 of the 2021 audited annual consolidated financial statements.</font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:112%">II. Commodity Risk Management Assets and Liabilities</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Commodity risk management assets and liabilities include risk management assets and liabilities that are used in the energy marketing and generation businesses in relation to trading activities and certain contracting activities. 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style="width:1.0%"></td><td style="width:8.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.194%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.714%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.718%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%"> 6 months ended June 30, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font 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solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedge</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-hedge</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;Opening balance</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 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colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Market price changes on existing contracts</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(207)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(268)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(475)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(142)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(70)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(71)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Change in foreign exchange rates</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Net risk management assets (liabilities) at end of period</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(435)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(407)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(99)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Additional Level III information&#58;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(205)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total gains (losses) included in earnings before income taxes   </font></td><td colspan="2" style="padding:2px 0 2px 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1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(107)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unrealized losses included in earnings before income taxes relating to net assets (liabilities) held at period end </font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As at June 30, 2022, the total Level III risk management </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">asset balan</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ce was $42 million (Dec. 31, 2021 </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> $305 million) and Level III risk management liability balance was $449 million (Dec. 31, 2021 </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">&#8212;</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> $146 million). Th</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">e following information on risk management contracts or groups of risk management contracts that are included in Level III measurements, include the effects on fair value of discounting, liquidity and credit value adjustments&#59; however, the potential offsetting effects of Level II positions are not considered. Sensitivity ranges for the base fair values are determined using reasonably possible alternative assumptions for the key unobservable inputs, which may include forward commodity prices, volatility in commodity prices and correlations, delivery volumes, escalation rates and cost of supply.</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.284%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.739%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:30.794%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="display:none"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sensitivity</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Valuation technique</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unobservable input</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reasonable possible change</font></td></tr><tr style="height:14pt"><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term power sale &#8211; US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+25</font></div></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$5 or price increase of US$31 </font></div></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="21" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-148</font></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Coal transportation &#8211; US</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+15</font></div></td><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Numerical derivative valuation</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$5 or price increase of US$31 </font></div></td></tr><tr style="height:15pt"><td colspan="21" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Volatility</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80% to 120%</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-16</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rail rate escalation</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">zero to 10%</font></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Full requirements &#8211; Eastern US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+3</font></div></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monte Carlo</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Volume</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95% to 105%</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-18</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of supply</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$nil to US$2 per MWh</font></div></td></tr><tr style="height:21pt"><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale &#8211;Eastern US</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+18</font></div></td><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price increase or decrease of US$6</font></div></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future REC prices (per unit)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$2 or increase of US$1</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-15</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind discounts</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">zero to 5% </font></div></td></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale &#8211; Canada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+26</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of C$40 or increase of C$4</font></div></td></tr><tr style="height:14pt"><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind discounts</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;10% decrease or 5% increase</font></div></td></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale - Central US </font></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+52</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$4 or increase of US$5 </font></div></td></tr><tr style="height:14pt"><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind discounts</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3% decrease or 7% increase</font></div></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+8</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-9</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.284%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.919%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.028%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:25.344%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at</font></td><td colspan="3" style="display:none"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sensitivity</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Valuation technique</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unobservable input</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reasonable possible change</font></td></tr><tr style="height:17pt"><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term power sale &#8211; US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+22</font></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$3 or price increase of US$20 </font></div></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="21" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-145</font></div></td></tr><tr style="height:8pt"><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Coal transportation &#8211; US</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+3</font></td><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Numerical derivative valuation</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$3 or price increase of US$20 </font></td></tr><tr style="height:14pt"><td colspan="21" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Volatility</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80% to 120%</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-18</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rail rate escalation</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">zero to 4%</font></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Full requirements &#8211; Eastern US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+9</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monte Carlo</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Volume</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95% to 105%</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cost of supply</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(+&#47;-) US$1 per MWh</font></div></td></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale &#8211;Eastern US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+17</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price increase or decrease of US$6</font></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-16</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future REC prices (per unit)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$3 or increase of US$2</font></td></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale &#8211; Canada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+21</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of C$24 or increase of C$5</font></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-11</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind discounts</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;5% decrease or 5% increase</font></td></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term wind energy sale - Central US</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+27</font></td><td colspan="3" rowspan="2" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term price forecast</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illiquid future power prices (per MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Price decrease of US$2 or increase of US$3 </font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-15</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind discounts</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3% decrease or 3% increase</font></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">+6</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-6</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">i. Long-Term Power Sale &#8211; US</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has a long-term fixed price power sale contract in the US for delivery of power at the following capacity levels&#58; 380 MW through Dec.&#160;31, 2024 and 300 MW through Dec.&#160;31, 2025. The contract is designated as an all-in-one cash flow hedge.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The contract is denominated in US dollars. The US dollar relative to the Canadian dollar strengthened from Dec. 31, 2021 to June 30, 2022, resulting in an increase in the base fair value and the sensitivity values by approximately nil and $1 million.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">ii. Coal Transportation - US</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has a coal rail transport agreement that includes an upside sharing mechanism until Dec. 31, 2025. Option pricing techniques have been utilized to value the obligation associated with this component of the agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">iii. Full Requirements &#8211; Eastern US</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">The Company has a portfolio of full requirement service contracts, whereby the Company agrees to supply specific utility customer needs for a range of products that may include electrical energy, capacity, transmission, ancillary services, renewable energy credits and independent system operator costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">iv. Long-Term Wind Energy Sale &#8211; Eastern US</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In relation to the Big Level wind facility, the Company has a </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">long-term contract for differences whereby the Company receives a fixed price per MWh and pays the prevailing real-time energy market price per MWh as well as the physical delivery of renewable energy credits (&#34;RECs&#34;) based on proxy generation.&#160;The contract matures in December 2034.&#160;The contract is accounted for at fair value through profit or loss.</font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">v. Long-Term Wind Energy Sale &#8211; Canada</font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In relation </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">to the Garden Plain wind project, the Company has entered into two virtual PPAs whereby the Company receives the difference between the fixed contract price per MWh and the Alberta Electric System Operator (&#34;AESO&#34;) settled pool price per MWh. Both contracts commence on commercial operation of the facility, which is expected by the second half of 2022 and extend for a weighted average of approximately 17 years. The energy component of the contracts is accounted for at fair value through profit or loss. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In addition to the virtual PPA contracts, the Company has entered into a 'bridge contract' that runs 16-months from Sept. 1, 2021 through Dec. 31, 2022, with the potential for extension at the virtual PPA price, depending on the commencement of commercial operations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">vi. </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Long-Term Wind Energy Sale &#8211; Central US</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On Dec. 22, 2021, TransAlta executed two long-term virtual PPAs for the off take of 100 per cent of the generation from its 300 M</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">W White Rock East and White Rock West wind power projects (</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">collectively, the </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#34;White Rock Wind projects&#34;) to be located in Caddo County, Oklahoma.  The Company receives the difference between the fixed contract price per MWh and the settled pool price per MWh. The contracts commence on commercial operation of the facilities, which is expected within the second half of 2023 and extend</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> for greater than 10 years past that date. Th</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">e energy component of the contracts is accounted for at fair value through profit or loss.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On April 5, 2022, the Company entered into a long-term virtual PPA for the offtake of 100 per cent of the generation from its 200 MW Horizon Hill wind project (&#34;Horizon Hill wind project&#34;) to be located in Logan County, Oklahoma. The Company receives the difference between th</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">e fixed contract price per MWh and the settled pool price per MWh with the energy component of the contracts accounted for at fair value through profit and loss. The contract commences on commercial operation of the facility, which is expected within the second half of 2023.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:112%">III. Other Risk Management Assets and Liabilities</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other risk management assets and liabilities primarily include risk management assets and liabilities that are used in managing exposures on non-energy marketing transactions such as interest rates, the net investment in foreign operations and other foreign currency risks. Hedge accounting is not always applied. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other risk management assets and liabilities with a total net asset fair value of $48 million as at June 30, 2022 (Dec. 31, 2021 &#8211; $8 million net asset) are classified as Level II fair value measurements. The significant changes in other net risk management assets and liabilities during the six months ended June 30, 2022, are primarily attributable to favourable impacts of interest rate increases on existing contracts and favourable foreign exchange rates on new contracts entered into during 2022. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IV. 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June 30, 2022</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,781</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,781</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,076</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable securities - Dec. 31, 2021</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">770&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">770&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">735&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt - Dec. 31, 2021</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,272&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,272&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,167&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1)&#160;Includes current portion.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The fair values of the Company&#8217;s debentures, senior notes and exchangeable securities are determined using prices observed in secondary markets. Non-recourse and other long-term debt fair values are determined by calculating an implied price based on a current assessment of the yield to maturity.&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The carrying amount of other short-term financial assets and liabilities (cash and cash equivalents, restricted cash, trade accounts receivable, collateral paid, accounts payable and accrued liabilities, collateral received and dividends payable) approximates fair value due to the liquid nature of the asset or liability. The fair values of the loan receivable and the finance lease receivables approximate the carrying amounts and the amounts receivable represent cash flows from repayments of principal and interest.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Inception Gains and Losses</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The majority of derivatives traded by the Company are based on adjusted quoted prices on an active exchange or extend beyond the time period for which exchange-based quotes are available. The fair values of these derivatives are determined using inputs that are not readily observable. Refer to section B of this Note 11 above for fair value Level III valuation techniques used. In some instances, a difference may arise between the fair value of a financial instrument at initial recognition (the &#8220;transaction price&#8221;) and the amount calculated through a valuation model. This unrealized gain or loss at inception is recognized in net earnings (loss) only if the fair value of the instrument is evidenced by a quoted market price in an active market, observable current market transactions that are substantially the same, or a valuation technique that uses observable market inputs. Where these criteria are not met, the difference is deferred on the Condensed Consolidated Statements of Financial Position in risk management assets or liabilities and is recognized in net earnings (loss) over the term of the related contract. The difference between the transaction price and the fair value determined using a valuation model, yet to be recognized in net earnings (loss) and a reconciliation of changes is as follows&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.848%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.927%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unamortized net loss at beginning of the period</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(102)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">New inception gains (losses)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in foreign exchange rates</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization recorded in net earnings during the period</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unamortized net loss at end of the period</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(144)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_49"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">12. Risk Management Activities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company is exposed to market risk from changes in commodity prices, foreign exchange rates, interest rates, credit risk and liquidity risk. These risks affect the Company&#8217;s earnings (loss) and the value of associated financial instruments that the Company holds. In certain cases, the Company seeks to minimize the effects of these risks by using derivatives to hedge its risk exposures. The Company&#8217;s risk management strategy, policies and controls are designed to ensure that the risks it assumes comply with the Company&#8217;s internal objectives and its risk tolerance. 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Net Risk Management Assets and Liabilities</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Aggregate net risk management assets (liabilities) are as follows&#58; </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.722%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at June 30, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash flow<br>hedges</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Not<br>designated<br>as a hedge</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Commodity risk management</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">76</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net commodity risk management assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">70</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">38</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total net risk management assets</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">66</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.722%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As at Dec. 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow<br>hedges</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Not<br>designated<br>as a hedge</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commodity risk management</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net commodity risk management assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">293&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 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style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Nature and Extent of Risks Arising from Financial Instruments</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">I. Market Risk</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">i. Commodity Price Risk Management &#8211; Proprietary Trading</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company&#8217;s Energy Marketing segment conducts proprietary trading activities and uses a variety of instruments to manage risk, earn trading revenue and gain market information. Value at risk (&#34;VaR&#34;) is used to determine the potential change in value of the Company&#8217;s proprietary trading portfolio, over a three-day period within a 95 per cent confidence level, resulting from normal market fluctuations. Changes in market prices associated with proprietary trading activities affect net earnings (loss) in the period that the price changes occur. VaR at June 30, 2022, associated with the Company&#8217;s proprietary trading activities was $3 million (Dec. 31, 2021 &#8212; $2 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">ii. Commodity Price Risk &#8211; Generation</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The generation segments utilize various commodity contracts to manage the commodity price risk associated with electricity generation, fuel purchases, emissions and by products, as considered appropriate. VaR at June 30, 2022, associated with the Company&#8217;s commodity derivative instruments used in generation hedging activities was $41 million (Dec. 31, 2021 &#8212; $33 million). For positions and economic hedges that do not meet hedge accounting requirements or for short-term optimization transactions such as buybacks entered into to offset existing hedge positions, these transactions are marked to the market value with changes in market prices associated with these transactions affecting net earnings (loss) in the period in which the price change occurs. VaR at June 30, 2022, associated with these transactions was $60 million (Dec. 31, 2021&#8212; $51 million), of which $22 million related to virtual PPAs (Dec. 31, 2021 &#8212; $18 million). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">iii. Interest Rate Risk </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest rate risk arises as the fair value of future cash flows from a financial instrument fluctuates because of changes in market interest rates. Changes in interest rates can impact the Company&#8217;s borrowing costs. Changes in the cost of capital may also affect the feasibility of new growth initiatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company's credit facility and the Poplar Creek non-recourse bond are the only debt instruments subject to floating interest rates, which represent 3 per cent of the Company&#8217;s debt as at June 30, 2022 (Dec. 31, 2021 &#8211; 3 per cent). The Poplar Creek non-recourse bond face value as at June 30, 2022 was $100 million (Dec. 31, 2021 &#8212;$104 million), with interest expense based upon the three-month Canadian Dollar Offered Rate, which will be discontinued in 2024.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest rate risk is managed with the use of interest rate swap agreements with a notional amount of US$150 million&#160;referencing the three-month LIBOR and a notional amount of US$150 million referencing the US Treasury Bond yield, both expected to settle in the third quarter of 2022. The cessation date for three-month LIBOR is June 30, 2023. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table outlines the Company's exposure to interest rate risk&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.979%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Factor</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Increase or<br>decrease (bps)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Approximate impact<br>on net earnings (loss)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Approximate impact on OCI gain(loss)</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">nil  before tax</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) These calculations assume an increase in floating interest rates. 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(Per&#160;cent)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(Per&#160;cent)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,014</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term finance lease receivables</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">158</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">911</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loan receivable</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,128</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1)&#160;Letters of credit and cash and cash equivalents are the primary types of collateral held as security related to these amounts.&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes $45 million loan receivable included within Other Assets with a counterparty that has no external credit rating. 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Liquidity Risk</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has sufficient existing liquidity available to meet its upcoming debt maturities. The next major debt repayment is scheduled for November 2022. Our highly diversified asset portfolio, by both fuel type and operating region, provide stability in our cash flows and highlight the strength of our long-term contracted asset base. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Liquidity risk relates to the Company&#8217;s ability to access capital to be used for capital projects, debt refinancing, proprietary trading activities, commodity hedging and general corporate purposes. A maturity analysis of the Company&#8217;s financial liabilities as well as financial assets that are expected to generate cash inflows to meet cash outflows on financial liabilities, is as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.316%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.039%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027 and thereafter</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,146&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,146&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">570&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">126&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">143&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,961&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable securities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commodity risk management (assets)<br>&#160;&#160;&#160;liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(68)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(52)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(70)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other risk management assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on long-term debt and lease </font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;liabilities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">809&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,370&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on exchangeable securities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2,4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends payable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,888</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">328</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">244</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">960</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">262</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,858</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,540</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1)&#160;Excludes impact of hedge accounting and derivatives.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Assumes the exchangeable securities will be exchanged on Jan. 1, 2025.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Lease liabilities includes a lease incentive of $6 million expected to be received in each of 2022 and 2023.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4)&#160;Not recognized as a financial liability on the condensed consolidated Statements of financial position.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Collateral and Contingent Features in Derivative Instruments</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">I.</font><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%;padding-left:3.81pt">Financial Assets Provided as Collateral</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At June 30, 2022, the Company provided $403 million (Dec. 31, 2021 &#8211; $55 million) in cash and cash equivalents as collateral to regulated clearing agents as security for commodity trading activities. These funds are held in segregated accounts by the clearing agents. Collateral provided is included in trade and other receivables in the Consolidated Statements of Financial Position.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">II.</font><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%;padding-left:1.29pt">Financial Assets Held as Collateral&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At June 30, 2022, the Company held $604 million (Dec. 31, 2021 &#8211; $18 million) in cash collateral associated with counterparty obligations. Under the terms of the contracts, the Company may be obligated to pay interest on the outstanding balances and to return the principal when the counterparties have met their contractual obligations or when the amount of the obligation declines as a result of changes in market value. Interest payable to the counterparties on the collateral received is calculated in accordance with each contract. Collateral held is related to derivative instruments in a net asset position and is included in accounts payable and accrued liabilities in the Consolidated Statements of Financial Position.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">III. Contingent Features in Derivative Instruments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Collateral is posted in the normal course of business based on the Company&#8217;s senior unsecured credit rating as determined by certain major credit rating agencies. Certain of the Company&#8217;s derivative instruments contain financial assurance provisions that require collateral to be posted only if a material adverse credit-related event occurs. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As at June 30, 2022, the Company had posted collateral of $562 million (Dec. 31, 2021 &#8211; $356 million) in the form of letters of credit on derivative instruments in a net liability position.&#160;Certain derivative agreements contain credit-risk-contingent features, which if triggered could result in the Company having to post an additional $353 million (Dec. 31, 2021 &#8211; $120 million) of collateral to its counterparties.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F23</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_1109"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:110%">13. Investments</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Energy Impact Partners Investment (&#34;EIP&#34;)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On May 6, 2022, the Company entered into a commitment to invest US$25 million over the next four years in EIP's Deep Decarbonization Frontier Fund 1 (the &#8220;Frontier Fund&#8221;). The investment in the Frontier Fund provides the Company with a portfolio approach to investing in emerging technologies and the opportunity to identify, pilot, commercialize and bring to market emerging technologies that will facilitate the transition to net-zero emissions. During the second quarter of 2022, the Company has made an initial investment of $7 million (US$6 million). The investment will be accounted for at fair value through profit or loss.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ekona Power Inc. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On February 1, 2022, the Company made an equity investment of $2 million in Ekona Power Inc.&#8217;s Class B Preferred Shares. The investment will help support the commercialization of Ekona&#8217;s novel methane pyrolysis technology platform, which produces cleaner and lower-cost turquoise hydrogen. The investment will be accounted for at fair value through other comprehensive income.</font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_52"></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:110%">14. Property, Plant and Equipment </font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Assets under construction</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">During the three and six months ended June 30, 2022, the Company had additions of $119 million and $191&#160;million, respectively, mainly related to assets under construction for the White Rock Wind projects, Horizon Hill wind project, Northern Goldfields Solar project, the Garden Plain wind project and other planned major maintenance. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">During the three and six months ended June 30, 2021, the Company had additions of $119 million and $217 million, respectively. The additions mainly related to assets under construction for the coal-to-gas conversions, Windrise wind project, Sundance Unit 5 repowering project and other planned major maintenance expenditures. During the six months ended June 30, 2021, the Company completed the conversions of Keephills Unit 2, Sheerness Unit 1 and Sundance Unit 6.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">During the three and six months ended June 30, 2022, the Company capitalized interest of $3 million and $4 million, respectively, (June 30, 2021 &#8212; $3 million and $8 million) to PP&#38;E at a weighted average rate of 6.1 per cent (June 30, 2021 - 6.0 per cent). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Renewable Generation</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">The Company has begun its rehabilitation plan at the Kent Hills wind facilities which consists of dismantling all 49 remaining turbines, demolishing and removing all existing tower foundations, replacing them with newly-designed foundations, reassembling the wind turbine towers and generators, replacing the wind turbine that collapsed and testing each wind turbine generator before returning it to service. For the three and six months ended June 30, 2022, the Company has capitalized additions of $10&#160;million.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">In the first quarter of 2022, $16 million of costs, related to transmission infrastructure at the Windrise wind facility, were reclassified from Property, Plant and Equipment to Other Assets and will be amortized to net earnings (loss) over the useful life of the Windrise wind facility. In accordance with the asset transfer agreement, the ownership of these assets must be transferred to the transmission line owner upon completion of construction of the transmission infrastructure.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Gas Generation</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">On June 30, 2021, the Company closed the sale of the Pioneer Pipeline to ATCO Gas and Pipelines Ltd. (&#34;ATCO&#34;) for the aggregate sale price of $255 million. The net cash proceeds to the Company from the sale of its 50 per cent interest, were approximately $128 million and the Company recognized a gain on sale of $31 million on the statement of earnings. In addition, as part of the transaction, the natural gas transportation agreement with the Pioneer Pipeline Limited Partnership was terminated which resulted in a gain of $2 million. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Energy Transition</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">During 2021, Keephills Unit 1 and Sundance Unit 5 were retired. Sundance Unit 4 was retired from service effective March 31, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">During the six months ended June 30, 2022, there was a decrease in the decommissioning provision resulting from an increase in discount rates largely driven by increases in market benchmark rates. This resulted in a decrease in the related assets included in property, plant and equipment by $106&#160;million. Refer to Note 17 for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">Refer to Note 5 for more details on asset impairments charges and reversals recognized during the three and six months ended June 30, 2022 and 2021. </font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_55"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:110%">15. Intangible Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company acquired a portfolio of wind development projects in the US in 2019. Upon moving forward with any of these projects, additional consideration may be payable on a project-by-project basis in the event a project achieves commercial operations prior to Dec. 31, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the six months ended June 30, 2022, the Company recorded $16 million (June 30, 2021 &#8212; nil) of contingent consideration relating to US wind development projects. Additionally, the Company reclassified development costs of $3&#160;million from Other Assets to Intangible Assets comprised of initial acquisition costs. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_1090"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">16. Other Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other Assets includes a $45 million (Dec. 31, 2021 - $55 million) unsecured loan related to an advancement by the Company's subsidiary, Kent Hills Wind LP, of the net financing proceeds of the Kent Hills Wind Bond (&#34;KH Bonds&#34;), to its 17 per cent partner. During the second quarter of 2022, the Company received a repayment of $10 million which was required as part of the waiver and amendment made to the KH Bonds. In the second quarter of 2022, the loan receivable agreement was amended and its original maturity date of Oct. 2, 2022 was extended to October 2027, resulting in the classification of a portion of the loan receivable to non-current assets. The remaining terms of the original loan remain unchanged and it continues to bear interest at 4.55 per cent, with interest payable quarterly. No scheduled principal repayments are required until maturity. However, repayments may be required for amounts associated with foundation replacement capital expenditures as outlined in the amendment made to the KH Bonds.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">In the first quarter of 2022, $16 million of costs related to transmission infrastructure at the Windrise wind facility were reclassified from Property, Plant and Equipment to Other Assets and will be amortized to net earnings (loss) over the useful life of the Windrise wind facility. Refer to Note 14 for further detail.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F25</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_58"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">17. Decommissioning and Other Provisions</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The change in decommissioning and other provision balances is as follows&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.207%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.932%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.130%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.331%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Decommissioning and<br>restoration</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, Dec. 31, 2021</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities settled </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(26)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revisions in estimated cash flows</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revisions in discount rates</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(211)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(211)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in foreign exchange rates</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance, June 30, 2022</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">599</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">627</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.207%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.932%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.130%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.331%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Decommissioning&#160;and<br>restoration</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, Dec. 31, 2021</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current portion</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">758&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance, June 30, 2022</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">599</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">627</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current portion</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">35</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current portion</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">564</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid 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0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:110%">During the three and six months ended June 30, 2022, the decommissioning and restoration provision was impacted as a result of increases in discount rates, largely driven by increases in market benchmark rates. On average, discount rates increased with rates ranging from 6.8 to 9.3 per cent as at June 30, 2022 (Dec. 31, 2021 &#8212; 3.6 to 6.5 per cent). Revisions in discount rates and revisions in estimated cash flows within the decommissioning and restoration provision include $106&#160;million related to PP&#38;E assets and $93&#160;million related to retired assets recorded as an asset impairment reversal.</font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_61"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">18. Credit Facilities and Long-Term Debt</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has $2 billion (Dec. 31, 2021 &#8212; $2 billion) of committed syndicated bank facilities and $0.2 billion of committed bilateral credit facilities, of which $1.0 billion was available as at June 30, 2022 (Dec. 31, 2021 &#8212; $1.3&#160;billion) including the undrawn letters of credit. During the second quarter of 2022, the committed syndicated credit facilities were extended by one year to June 30, 2026 and the committed bilateral credit facilities were extended by one year to June 30, 2024. The undrawn credit facilities are the primary source for short-term liquidity after the cash flow generated from the Company's business. Interest rates on the credit facilities vary depending on the option selected (Canadian prime, bankers' acceptances, SOFR or US base rate, etc.) in accordance with a pricing grid that is standard for such facilities. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As at June 30, 2022, the Company was in compliance with all debt covenants.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Kent Hills Wind Bonds</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">In fourth quarter of 2021, the Company disclosed that events of default may have occurred under the trust indenture governing the terms of the KH Bonds. Accordingly, the Company classified the entire carrying value of the bond as current as at Dec. 31, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">During the second quarter of 2022, the Company obtained a waiver and entered into a supplemental indenture that facilitated the rehabilitation of the Kent Hills 1 and 2 wind facilities. Upon obtaining the waiver, the Company has reclassified a portion of the total $212 million carrying value (face value $215 million) outstanding (Dec. 31, 2021 &#8212; $221 million) to non-current liabilities, with the exception of the scheduled principal repayments due within the next twelve months from June 30, 2022. In accordance with the supplemental indenture, Kent Hills Wind LP cannot make any distributions to its partners until the foundation replacement work has been completed. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The KH Bonds issued in October 2017, bear interest at 4.45 per cent, with principal and interest payable quarterly in blended payments until maturity on Nov. 30, 2033. The KH Bonds are secured by a first ranking charge over all of the assets of the issuer, Kent Hills Wind LP, which primarily includes the Kent Hills 1, 2 and 3 wind facilities, which at June 30, 2022, had a combined PP&#38;E carrying value of $181 million (Dec. 31, 2021 &#8212; $182 million). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:112%">Restricted Cash</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has nil (Dec. 31, 2021 &#8212; $17 million) of restricted cash related to the Company's subsidiary, TransAlta OCP LP bond (&#34;TransAlta OCP bonds&#34;), which was required to be held in a debt service reserve account to fund scheduled debt repayments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company also had $43 million (Dec. 31, 2021 &#8212; $53 million) of restricted cash related to the TEC Hedland PTY Ltd bond&#59; reserves are required to be held under commercial arrangements and for debt service. Cash reserves may be replaced by letters of credit in the future.</font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_64"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">19. Common Shares</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Issued and Outstanding</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">TransAlta is authorized to issue an unlimited number of voting common shares without nominal or par value.</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.470%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.117%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269.8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,896&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchased and cancelled under the NCIB</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1.4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effects of share-based payment plans</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Stock options exercised</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issued and outstanding, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">270.7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,893</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271.0&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,901&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Normal Course Issuer Bid Program</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On May 24, 2022, the Toronto Stock Exchange (&#8220;TSX&#8221;) accepted the notice filed by the Company to renew its normal course issuer bid (&#8220;NCIB&#8221;) for a portion of its common shares. Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 7.16% of its public float of common shares. Any common shares purchased under the NCIB will be cancelled. The period during which TransAlta is authorized to make purchases under the NCIB commences on May 31, 2022 and ends on May 30, 2023.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Shares purchased by the Company under the NCIB are recognized as a reduction to share capital equal to the average carrying value of the common shares. Any difference between the aggregate purchase price and the average carrying value of the common shares is recorded in deficit.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following are the effects of the Company's purchase and cancellation of the common shares during the period&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.446%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total shares purchased</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,400,000</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average purchase price per share</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12.50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total cost (millions)</font></td><td style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average book value of shares cancelled</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amount recorded in deficit</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) As of May 25, 2022. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Dividends</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On April&#160;27, 2022, the Company declared a quarterly dividend of $0.05 per common share, payable on July&#160;1, 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On July 27, 2022, the Company declared a quarterly dividend of $0.05 per common share, payable on Oct. 1, 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">There have been no other transactions involving common shares between the reporting date and the date of completion of these unaudited interim condensed consolidated financial statements. </font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_67"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">20. Preferred Shares</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Issued and Outstanding</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">All preferred shares issued and outstanding are non-voting cumulative redeemable fixed or floating rate first preferred shares.</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.919%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.638%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Series</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">235</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.6&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">235&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10.0</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">243</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.0&#160;</font></td><td style="padding:2px 1pt 2px 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1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Series&#160;E</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9.0</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Series&#160;G</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6.6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">161</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">942</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38.6&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">942&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On June 16, 2022, the Company announced that that 1,044,299 of its 11,000,000 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C (&#8220;Series C Shares&#8221;) were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series D (&#8220;Series D Shares&#8221;) after having taken into account all election notices following the June 15, 2022 conversion deadline.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Dividends</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On April 27, 2022, the Company declared a quarterly dividend of $0.17981 per share on the Series A preferred shares, $0.16505 per share on the Series B preferred shares, $0.25169 per share on the Series C preferred shares, $0.32463 per share on the Series E preferred shares, and $0.31175 per share on the Series G preferred shares, all payable on June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On July 27, 2022, the Company declared a quarterly dividend of $0.17981 per share on the Series A preferred shares, $0.22099 per share on the Series B preferred shares, $0.36588 per share on the Series C preferred shares, $0.28841 per share on the Series D preferred shares, $0.32463 per share on the Series E preferred shares and $0.31175 per share on the Series G preferred shares, payable on Sept. 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_70"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">21. Commitments and Contingencies</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Commitments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the significant commitments and contingencies outstanding, refer to Note 36 of the 2021 annual consolidated financial statements. The Company has entered into the following material contractual commitments, as at June 30, 2022&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company entered into an engineering, procurement and construction agreement for approximately $37 million (AU$41 million) related to the Mount Keith 132kV Expansion Project. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In the second quarter of 2022, the Company entered into agreements for $86 million for the rehabilitation efforts at the Kent hills 1 and 2 wind facilities.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has not incurred any other material contractual commitments, either directly or through its interests in joint operations during 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Contingencies</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">TransAlta is occasionally named as a party in various claims and legal and regulatory proceedings that arise during the normal course of its business. TransAlta reviews each of these claims, including the nature of the claim, the amount in dispute or claimed and the availability of insurance coverage. There can be no assurance that any particular claim will be resolved in the Company&#8217;s favour or that such claims may not have a material adverse effect on TransAlta. Inquiries from regulatory bodies may also arise in the normal course of business, to which the Company responds as required. For the current material outstanding contingencies, please refer to Note 36 of the 2021 audited annual consolidated financial statements. Material changes to the contingencies have been described below. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Hydro Power Purchase Arrangement Emission Performance Credits</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Balancing Pool is claiming entitlement to the emission performance credits (&#34;EPCs&#34;) earned by the Alberta Hydro facilities as a result of TransAlta opting those facilities into the Carbon Competitiveness Incentive Regulation and Technology Innovation and Emissions Reduction Regulation from 2018-2020 inclusive. The Balancing Pool claims ownership of the EPCs because it believes the change-in-law provisions under the Hydro PPA require the EPCs to be passed through to the Balancing Pool. TransAlta has not received any benefit from the EPCs nor from any purported change in law and believes that the Balancing Pool has no rights to these credits. An arbitration has commenced and the hearing is scheduled for Feb. 6 to 10, 2023. TransAlta holds approximately 1.75 million EPCs with no recorded book value that were created between 2018-2020, which are at risk as a result of the Balancing Pool's claim. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Keephills 1 Stator Force Majeure</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Balancing Pool and ENMAX Energy Corporation (&#34;ENMAX&#34;) were seeking to set aside an arbitration award on the basis that they did not receive a fair hearing. The Alberta Court of Queen&#8217;s Bench dismissed the Balancing Pool and ENMAX&#8217;s allegations of unfairness on June 26, 2019. The Balancing Pool and ENMAX, appealed this decision to the Court of Appeal, which was heard on Jan. 27, 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 9, 2022, the Court of Appeal released a unanimous decision dismissing ENMAX and the Balancing Pool's application. The Court of Appeal upheld the Company&#8217;s claim of force majeure that arose when its Keephills 1 generating unit tripped offline in 2013. As a result of the decision, the Company&#8217;s claim of force majeure remains valid and the associated costs of the force majeure event will not be reassessed against TransAlta. ENMAX and the Balancing Pool have until Aug. 8, 2022 to file an application at the Supreme Court of Canada for permission to appeal the Court of Appeal's decision. </font></div><div><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Sarnia Outages</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Sarnia cogeneration facility experienced three separate events between May 19, 2021 and June 9, 2021 that resulted in steam interruptions to its industrial customers. As a result, the customers have submitted claims for liquidated damages. Steam supply disruptions of this nature are atypical and infrequent at the Sarnia cogeneration facility. A root cause failure analysis was completed for the three outages, which concluded that all three outages were within TransAlta (SC) LP&#8217;s control. As such, liquidated damages previously included in contract liabilities in the amount of $12 million have been paid by TransAlta (SC) LP in the second quarter of 2022.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">There have been no other material updates to any of the contingencies in the three and six month periods ended June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F29</font></div></div></div><div id="ia752fee51d7646e2bff4f62ae12f36ac_73"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">22. Segment Disclosures</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Description of Reportable Segments&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has six reportable segments as described in Note 1. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following tables provide each segment's results in the format that the CODM reviews the Company's segments to make operating decisions and assess performance. The tables below show the reconciliation of the total segmented results and adjusted EBITDA to the statement of earnings (loss) reported under IFRS. Prior periods have been adjusted for comparable purposes.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For internal reporting purpose, the earnings information from the Company's investment in the Skookumchuck wind facility has been presented in the Wind and Solar segment on a proportionate basis. Information on a proportionate basis reflects the Company's share of Skookumchuck's statement of earnings on a line-by-line basis. Proportionate financial information is not and is not intended to be, presented in accordance with IFRS. Under IFRS, the investment in Skookumchuck has been accounted for as a joint venture using the equity method. </font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Reported Adjusted Segment Earnings (Loss) and Segment Assets</font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reconciliation of Adjusted EBITDA to Earnings (Loss) Before Income Tax </font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.893%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.835%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.156%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.399%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Attributable to common shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3 months ended June 30, 2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">127</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">461</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">128</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(56)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">87</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(87)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(65)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized foreign exchange (gain) loss on commodity</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">111</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">262</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">632</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(171)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">71</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">146</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">71</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">230</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">29</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">393</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(172)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Insurance recovery</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted net other operating income</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(13)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(23)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(115)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment reversal</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(62)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Loss before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. </font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA is not defined and have no standardized meaning under IFRS. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.015%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.348%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.874%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.718%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3 months ended June 30, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">79&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">287&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">623&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(28)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">276&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">643&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">110&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Mine depreciation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(26)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(50)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Coal inventory write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">65&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">54&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">440&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(74)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">362&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Parts and materials write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted OM&#38;A</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(24)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(123)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment charge</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(16)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) During the three months ended June 30, 2021, $3 million related to station service costs for the Hydro segment were reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">5) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. </font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:21.211%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.320%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.196%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.728%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.246%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.517%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6 months ended June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">191</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">561</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">202</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">62</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,200</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(34)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">553</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">213</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,250</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(50)</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">278</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">467</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">51</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">755</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(52)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">696</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">33</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Insurance recovery</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted net other operating income</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(30)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(41)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(232)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment reversal</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">66</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. </font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA is not defined and have no standardized meaning under IFRS. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.717%"><tr><td style="width:1.0%"></td><td style="width:21.789%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.744%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.257%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.828%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.503%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.341%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.581%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.127%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6 months ended June 30, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">170&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">240&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,270&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(51)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(33)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">171&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">536&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,299&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(29)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">218&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">221&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Mine depreciation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(53)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(52)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(105)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Coal inventory write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">163&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">158&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">342&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">118&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">194&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">164&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">302&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">90&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">865&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(147)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">87&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">252&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Parts and materials write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted OM&#38;A</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">85&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">227&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(272)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment charge</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(123)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) During the six months ended June 30, 2021, $5 million related to station service costs for the Hydro segment was reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">5) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Notes to Condensed Consolidated Financial Statements</font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Depreciation and Amortization on the Condensed Consolidated Statements of Cash Flows</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The reconciliation between depreciation and amortization reported on the condensed consolidated statements of earnings (loss) and the condensed consolidated statements of cash flows is presented below&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.242%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization expense on the condensed consolidated statements of earnings (loss)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">272&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation included in fuel and purchased power (Note 4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depreciation and amortization on the condensed consolidated statements of cash flows</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">377&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#808080;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">F35</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>3
<FILENAME>a20220630tacex132managemen.htm
<DESCRIPTION>EX-13.2
<TEXT>
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<title>Document</title></head><body><div id="i38116e15179d46ad9ff458c8978b85d1_1"></div><div style="min-height:72pt;width:100%"><div style="text-indent:22.5pt"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:18pt;font-weight:700;line-height:120%"> </font></div><div style="padding-left:22.5pt;text-indent:22.5pt"><font><br></font></div></div><div><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_4"></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:288pt;text-align:justify"><img alt="transaltanewlogowhite.jpg" src="transaltanewlogowhite.jpg" style="height:43px;margin-bottom:5pt;vertical-align:text-bottom;width:250px"></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:18pt;font-weight:700;line-height:120%">TRANSALTA CORPORATION</font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Second Quarter Report for 2022</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">This Management&#8217;s Discussion and Analysis (&#8220;MD&#38;A&#8221;) contains forward-looking statements. These statements are based on certain estimates and assumptions and involve risks and uncertainties. Actual results may differ materially. See the Forward-Looking Statements section of this MD&#38;A for additional information.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_7"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Table of Contents</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:92.489%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.311%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Forward-Looking Statements</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_10" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">2</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Description of the Business</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_13" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">4</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Highlights</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_16" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">5</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Significant and Subsequent Events</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_19" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">8</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Performance by Segment with Supplemental Geographical Information</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_22" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">11</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Alberta Electricity Portfolio</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_25" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">12</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Segmented Financial Performance and Operating Results</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_28" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">14</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Selected Quarterly Information</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_64" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">21</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Strategy and Capability to Deliver Results</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_49" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022 Financial Outlook</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_61" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">27</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Kent Hills Wind Rehabilitation</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_1124" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">29</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial Position</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_67" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">30</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial Capital</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_70" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">31</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other Consolidated Analysis</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_73" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">35</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash Flows</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_76" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">36</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial Instruments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_79" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">37</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Additional IFRS Measures and Non-IFRS Measures</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_82" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">37</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial Highlights on a Proportional Basis of TransAlta Renewables</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_94" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">46</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Financial Non-IFRS Ratios</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_97" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">48</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Critical Accounting Policies and Estimates</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_106" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">52</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Accounting Changes</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_109" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">53</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Governance and Risk Management</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_112" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">53</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Regulatory Updates</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_115" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">54</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Disclosure Controls and Procedures</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%">M</font><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i38116e15179d46ad9ff458c8978b85d1_118" style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">56</a></font></div></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">This MD&#38;A should be read in conjunction with the unaudited interim condensed consolidated financial statements of TransAlta Corporation as at and for the three and six months ended June 30, 2022 and 2021, and should also be read in conjunction with the audited annual consolidated financial statements and MD&#38;A (&#34;2021 Annual MD&#38;A&#34;) contained within our 2021 Annual Integrated Report. In this MD&#38;A, unless the context otherwise requires, &#8220;we&#8221;, &#8220;our&#8221;, &#8220;us&#8221;, the &#8220;Company&#8221; and &#8220;TransAlta&#8221; refers to TransAlta Corporation and its subsidiaries. Our unaudited interim condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) International Accounting Standards (&#8220;IAS&#8221;) 34 Interim Financial Reporting for Canadian publicly accountable enterprises as issued by the International Accounting Standards Board (&#8220;IASB&#8221;) and in effect at June 30, 2022. All tabular amounts in the following discussion are in millions of Canadian dollars unless otherwise noted. This MD&#38;A is dated August&#160;4, 2022. Additional information respecting TransAlta, including our Annual Information Form (&#34;AIF&#34;) for the year ended December 31, 2021, is available on SEDAR at </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:700;line-height:120%">www.sedar.com</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">, on EDGAR at </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:700;line-height:120%">www.sec.gov</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%"> and on our website at </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:700;line-height:120%">www.transalta.com</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:120%">. Information on or connected to our website is not incorporated by reference herein.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_10"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Forward-Looking Statements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">This MD&#38;A includes &#34;forward-looking information&#34; within the meaning of applicable Canadian securities laws and &#34;forward-looking statements&#34; within the meaning of applicable United States (&#34;US&#34;) securities laws, including the US </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Private Securities Litigation Reform Act </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">of 1995 (collectively referred to herein as &#34;forward-looking statements&#34;).&#160;All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumptions were made and on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances.&#160;Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as &#34;may,&#34; &#34;will,&#34; &#34;can,&#34; &#34;could,&#34; &#34;would,&#34; &#34;shall,&#34; &#34;believe,&#34; &#34;expect,&#34; &#34;estimate,&#34; &#34;anticipate,&#34; &#34;intend,&#34; &#34;plan,&#34; &#34;forecast,&#34; &#34;foresee,&#34; &#34;potential,&#34; &#34;enable,&#34; &#34;continue&#34; or other comparable terminology.&#160;These statements are not guarantees of our future performance, events or results and are subject to risks, uncertainties and other important factors that could cause our actual performance, events or results to be materially different from that set out in or implied by the forward-looking statements. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">In particular, this MD&#38;A contains forward-looking statements including, but not limited to, statements relating to&#58; our Clean Electricity Growth Plan and ability to achieve the target of 2 gigawatts (&#34;GW&#34;) of incremental renewables capacity with an estimated capital investment of $3 billion that is expected to deliver incremental average annual EBITDA of $250 million&#59; the Company's projects under construction, including the timing of commercial operations, expected annual EBITDA and the costs of the 200 MW Horizon Hill wind project (&#34;Horizon Hill wind project&#34;), the White Rock East and White Rock West Wind Power Projects (&#34;White Rock Wind projects&#34;), Northern Goldfields Solar project, Garden Plain wind project, and the Mount Keith 132kV transmission expansion&#59; the effectiveness of the capacity commitments of the industrial customers at the Sarnia cogeneration facility&#59; the Ontario Independent Electricity System Operator (the &#8220;IESO&#8221;) announcement of the Company's successful bid in the third quarter of 2022 with respect to the Sarnia cogeneration facility&#59; the execution of the Company's early and advanced stage development pipeline, including the size, cost and expected EBITDA from such projects&#59; the expansion of the Company's early stage development pipeline to 5 GW&#59; the proportion of EBITDA to be generated from renewable sources by the end of 2025&#59; the 2022 Financial Outlook (defined below), including adjusted EBITDA and free cash flow&#59; the Company's ability to enhance shareholder value through its NCIB (defined below)&#59; the reduction of carbon emissions by 75 per cent from 2015 emissions levels by 2026&#59; the remediation of the Kent Hills 1 and 2 wind facilities, including, the timing and cost of such remediation, timing and cost to replace all 50 turbine foundations and the resulting impact such incident could have on the Company's revenues&#59; the expected impact and quantum of carbon compliance costs&#59; the ability to realize future growth opportunities with BHP (as defined below)&#59; regulatory developments and their expected impact on the Company, including the Canadian federal climate plan and the implementation of the major aspects thereof (including increased carbon pricing and increased funding for clean technology), the proposed new Clean Energy Standard, the Clean Fuel Regulations and Canadian Greenhouse Gas Offset Credit System Regulations and the ability of the Company to realize benefits from Canadian, United States and Australian regulatory developments, including receiving funding for clean electricity projects&#59; the potential increase in value of emission reduction credits&#59; sustaining and productivity capital in 2022&#59; expected power prices in Alberta, Ontario and the Pacific Northwest&#59; AECO gas price assumptions&#59; the cyclicality of the business, including as it relates to maintenance costs, production and loads&#59; expectations regarding refinancing the debt maturing in 2022&#59; and the Company continuing to maintain a strong financial position and significant liquidity without any significant impact from the current economic environment. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The forward-looking statements contained in this MD&#38;A are based on many assumptions including, but not limited to, the following&#58; the impacts arising from COVID-19 not becoming significantly more onerous on the Company&#59; no significant changes to applicable laws and regulations beyond those that have already been announced&#59; no significant changes to fuel and purchased power costs&#59; no material adverse impacts to the long-term investment and credit markets&#59; no significant changes to power price and hedging assumptions including, Alberta spot prices of $90&#47;MWh to $100&#47;MWh in 2022 and Mid-Columbia spot prices of US$55&#47;MWh to US$65&#47;MWh in 2022&#59; AECO gas prices of between $4.50&#47;GJ and $5.50&#47;GJ&#59; sustaining capital of $150 million to $170 million&#59; Energy Marketing adjusted gross margin of $110 to $130 million&#59; no significant changes to gas commodity prices and transport costs&#59; the Company's proportionate ownership of TransAlta Renewables Inc. (&#34;TransAlta Renewables&#34;) not changing materially&#59; no decline in the dividends to be received from TransAlta Renewables&#59; and the growth of TransAlta Renewables. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual plans, performance, results or outcomes to differ materially from current expectations. Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this MD&#38;A include risks relating to&#58; the impact of COVID-19, including more restrictive directives of government and public health authorities&#59; increased force majeure claims&#59; reduced labour availability and ability to continue to staff our operations and facilities&#59; failure to satisfy the conditions precedent to the capacity commitments for each of the industrial offtakers at Sarnia cogeneration facility&#59; disruptions to our supply chains, including our ability to secure necessary equipment&#59; our ability to obtain regulatory approvals on the expected timelines or at all in respect of our growth projects&#59; restricted access to capital and increased borrowing costs&#59; changes in short-term and long-term electricity supply and demand&#59; fluctuations in market prices, including lower merchant pricing in Alberta, Ontario and Mid-Columbia&#59; reductions in production&#59; increased costs&#59; a higher rate of losses on our accounts receivables due to credit defaults&#59; impairments and&#47;or write-downs of assets&#59; insurance recoveries, and in particular the ability to recover costs and damages with respect to the Kent Hills 1 and 2 wind facilities&#59; adverse impacts on our information technology systems and our internal control systems, including increased cybersecurity threats&#59; commodity risk management and energy trading risks, including the effectiveness of the Company&#8217;s risk management tools associated with hedging and trading procedures to protect against significant losses&#59; changes in demand for electricity and capacity and our ability to contract our generation for prices that will provide expected returns and replace contracts as they expire&#59; changes to the legislative, regulatory and political environments in the jurisdictions in which we operate&#59; environmental requirements and changes in, or liabilities under, these requirements&#59; operational risks involving our facilities, including unplanned outages&#59; disruptions in the transmission and distribution of electricity&#59; the effects of weather, including man made or natural disasters and other climate-change related risks&#59; unexpected increases in cost structure&#59; reductions to our generating units&#8217; relative efficiency or capacity factors&#59; disruptions in the source of fuels, including natural gas, water, solar or wind resources required to operate our facilities&#59; equipment failure and our ability to carry out or have completed the repairs in a cost-effective manner or timely manner or at all, including if the remediation and replacement of turbine foundations of the Kent Hills 1 and 2 wind facilities is more costly or time consuming than expected&#59; failure to secure a successful bid with respect to the Sarnia cogeneration facility contract extension with the IESO&#59; general economic risks, including deterioration of equity markets, increasing interest rates or rising inflation&#59; failure to refinance the Company's senior notes maturing in 2022 on favorable terms&#59; failure to meet financial expectations&#59; general domestic and international economic and political developments&#59; armed hostilities, including the war in Ukraine and associated impacts&#59; the threat of terrorism, including cyberattacks, adverse diplomatic developments or other similar events that could adversely affect our business&#59; industry risk and competition&#59; fluctuations in the value of foreign currencies&#59; structural subordination of securities&#59; counterparty credit risk&#59; changes to our relationship with, or ownership of, TransAlta Renewables&#59; changes in the payment or receipt of future dividends, including from TransAlta Renewables&#59; risks associated with development projects and acquisitions, including capital costs, permitting, labour and engineering risks and delays in the construction or commissioning of projects&#59; inadequacy or unavailability of insurance coverage&#59; our provision for income taxes&#59; legal, regulatory and contractual disputes and proceedings involving the Company&#59; reliance on key personnel&#59; and labour relations matters.&#160;The foregoing risk factors, among others, are described in further detail in the Governance and Risk Management section of our 2021 Annual MD&#38;A and the Risk Factors section in our AIF for the year ended Dec. 31, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Readers are urged to consider these factors carefully in evaluating the forward-looking statements, which reflect the Company's expectations only as of the date hereof and are cautioned not to place undue reliance on them. The forward-looking statements included in this document are made only as of the date hereof and we do not undertake to publicly update these forward-looking statements to reflect new information, future </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">events or otherwise, except as required by applicable laws. The purpose of the financial outlooks contained herein is to give the reader information about management's current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes. In light of these risks, uncertainties and assumptions, the forward-looking statements might occur to a different extent or at a different time than we have described, or might not occur at all. We cannot assure that projected results or events will be achieved.</font></div><div><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_13"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Description of the Business</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Portfolio of Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">TransAlta is a Canadian corporation and one of Canada's largest publicly traded power generators with over 111 years of operating experience. We own, operate and manage a geographically diversified portfolio of assets utilizing a broad range of fuels that includes water, wind, solar and natural gas.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has retired the remaining assets located in Alberta within the Energy Transition segment. Effective Dec 31, 2021, the Keephills Unit 1 was retired and the Sundance Unit 4 was retired from service effective March 31, 2022, resulting in a reduction in capacity of 801 MW within the Energy Transition segment from Dec. 31, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table provides our consolidated ownership of our facilities across the regions in which we operate as at June 30, 2022&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.316%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.117%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.358%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at June 30, 2022</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Hydro</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Wind and Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)(5)</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</font></td></tr><tr style="height:14pt"><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Alberta</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross installed capacity (MW)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">636&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,960&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,430</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average contract life</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(3)(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada, Excl. Alberta</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross installed capacity (MW)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">751&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">645&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,487</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average contract life</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="4" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United States</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross installed capacity (MW)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">519&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">671&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average contract life</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="5" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Australia</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross installed capacity (MW)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">450</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average contract life</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="4" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross installed capacity (MW)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">925</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,906</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,084</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">671</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of facilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">74</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted average contract life</font><font 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style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Gross installed capacity for consolidated reporting represents 100 per cent output of a facility. 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Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Highlights</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Unaudited Interim Condensed Consolidated Financial Highlights</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.008%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.844%"></td><td 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (loss) before income tax</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net earnings (loss) attributable to common shareholders</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(80)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">106</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow (used in) from operating activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funds from operations</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">399</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Free cash flow</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">253</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net earnings (loss) per share attributable to common shareholders, basic and diluted</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(0.30)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 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colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.0450&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.0500</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.0450&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends declared per preferred share</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.2557</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.2536&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.2557</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.2536&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funds from operations per share</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.81&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Free cash flow per share</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.54</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.57&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.93</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.09&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total assets</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,226&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total consolidated net debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,616</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,636&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total long-term liabilities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,596</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,702&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total liabilities</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,633&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) During the three and six months ended June 30, 2021, $3 and $5 million related to station service costs for the Hydro segment was reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) These items are not defined and have no standardized meaning under IFRS. Presenting these items from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison with prior periods&#8217; results. Please refer to the Segmented Financial Performance and Operating Results section of this MD&#38;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. See also the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Weighted average of the Series A, B, C, E and G preferred share dividends declared. Dividends declared vary period over period due to timing of dividend declarations.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Funds from operations (&#34;FFO&#34;) per share and free cash flow (&#34;FCF&#34;) per share are calculated using the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding for the three and six months ended June 30, 2022, was 271 million shares (June 30, 2021 - 270 million and 271 million shares, respectively). Please refer to the Additional IFRS Measures and Non-IFRS Measures section in this MD&#38;A for the purpose of these non-IFRS ratios.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Total consolidated net debt includes long-term debt, including current portion, amounts due under credit facilities, exchangeable securities, US tax equity financing and lease liabilities, net of available cash and cash equivalents, the principal portion of restricted cash on our subsidiary TransAlta OCP LP (&#34;TransAlta OCP&#34;) and the fair value of economic hedging instruments on debt. See the table in the Financial Capital section of this MD&#38;A for more details on the composition of total consolidated net debt.</font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2022, the Company demonstrated strong performance led by the Wind and Solar segment with the addition of new contracted assets, namely the Windrise wind facility and North Carolina Solar (as defined below), partially offset by the Kent Hills wind facilities outages. The Alberta Electricity Portfolio performed ahead of expectations despite higher natural gas prices and compressed market heat rates. Performance in the Alberta Electricity Portfolio was led by the Alberta Wind and Hydro segments which benefited from the higher pricing environment and stronger production. The Alberta Gas segment was highly hedged in the quarter resulting in limited opportunity to benefit from high power prices. These factors contributed to the portfolio's overall performance and together demonstrate the value of our strategically diversified fleet in Alberta and its ability to generate cash flow under dynamic market conditions. The Energy Marketing segment has also exceeded expected results due to short-term trading of both physical and financial power and gas products across all North American markets. The Energy Marketing team was able to capitalize on short-term volatility in the markets in which we trade without materially changing the risk profile of the business unit.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjusted availability</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> for the three and six months ended June 30, 2022, was 87.3 per cent and 88.2 per cent, respectively, compared to 84.8 per cent and 86.7 per cent for the same periods in 2021. The increase was primarily due to lower planned outages within the Gas segment and Hydro segment, partially offset by the unplanned outage at the Kent Hills 1 and 2 wind facilities and certain early-stage operational issues at the Windrise wind facility in Alberta. Adjusted availability improved within the Gas segment as there were lower planned outages in the current period with the completion of the coal-to-gas conversions in 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Production</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> for the three and six months ended June 30, 2022, was 4,461 gigawatt hours (&#34;GWh&#34;) and 9,820 gigawatt hours, respectively, compared to 4,688 GWh and 10,229 GWh in the same periods in 2021. The decrease in production was primarily due to the retirement of Keephills Unit 1 and Sundance Unit 4, portfolio optimization activities, lower water resources from delayed spring runoff and the unplanned outage at the Kent Hills 1 and 2 wind facilities in the Wind and Solar segment. This was partially offset by higher wind resources, higher production at our Ada cogeneration facility within our Gas segment and incremental production from the newly-commissioned Windrise wind facility and the acquired 122 MW portfolio of operating solar sites located in North Carolina (collectively, &#8220;North Carolina Solar&#8221;), in our Wind and Solar segment.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Revenues </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">decreased by $161 million and $68 million, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021, mainly as a result of lower production in the Gas segment and in the Energy Transition segment and lower realized prices for the Hydro ancillary services, partially offset by an increase in production, higher realized prices and higher environmental attribute revenues within the Wind and Solar segment. In addition, during the second quarter of 2021, the Company experienced unplanned steam supply outages and steam reconciliation adjustments within the Gas segment that did not reoccur within the current period.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Fuel and purchased power costs</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> increased by $16 million and $9&#160;million, respectively, in the three and six months ended June 30, 2022, compared to the same periods in 2021. In our Gas segment, our fuel and purchased power costs increased compared to 2021 due to higher natural gas pricing and increased natural gas consumption for our converted units in 2022, partially offset by our hedged positions on gas, lower coal costs and no mine depreciation occurring in 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Carbon compliance costs</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> decreased by $33 million and $64 million, respectively, in</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%"> </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">the three and six months ended June 30, 2022, compared to the same periods in 2021, primarily due to reductions in greenhouse gas (&#34;GHG&#34;) emissions stemming from changes in the fuel mix ratio, as we now operate on natural gas in Alberta rather than coal, partially offset by an increase in the carbon price per tonne, as well as lower production and utilization of the Company's compliance credits to settle a portion of our GHG obligation.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operations, maintenance and administration (&#34;OM&#38;A&#34;) expenses </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">decreased by $31 million and $22 million, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021. During the second quarter 2021, the Company recorded a write-down of $25 million on parts and material inventory related to the Highvale mine and coal operations at our converted gas facilities. Variability caused by the total return swap resulted in a favourable period-over-period change of $2 million in the three months ended June 30, 2022 and an unfavourable period over period change of $6 million in the six months ended June 30, 2022. In addition, during the first quarter of 2021, the Company recognized the Canada Emergency Wage Subsidy (&#34;CEWS&#34;) of $8 million. Excluding the impact of the total return swap, the CEWS funding and the parts and material write-downs, OM&#38;A expenses were lower by $5 million and $13 million, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021, due to lower staffing costs, lower incentive payments and lower legal costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> decreased by $40 million and $103&#160;million, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021, largely due to lower adjusted EBITDA at our Gas, Energy Transition and Hydro segments and period to date higher corporate costs. This was partially offset by higher adjusted EBITDA in our Wind and Solar segment. On a year-to-date basis, our Energy Marketing segment results were in line with expectations compared with the strong 2021 results. Significant changes in segmented adjusted EBITDA are highlighted in the Segmented Financial Performance and Operating Results section within this MD&#38;A.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Earnings (loss) before income taxes</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> decreased by $94 million for the three months ended June 30, 2022, and increased by $127 million for the six months ended June 30, 2022, compared to the same periods in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Net loss attributable to common shareholders</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> for the three months ended June 30, 2022, increased by $68 million to a net loss of $80 million compared to a net loss of $12 million in the same period in 2021. Loss before income taxes and net loss attributable to common shareholders in the three months ended June 30, 2022, increased primarily due to lower revenues and higher fuel and purchased power costs, partially offset by lower carbon compliance costs, reversal of asset impairment charges impacted by the increase in discount rates, lower OM&#38;A, recognition of insurance related to the replacement costs for a tower at the Kent Hills facility and liquidated damages recognized related to turbine availability at the Windrise wind facility. The previous period was impacted by higher gains on sales with the sale of Pioneer Pipeline in the second quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Net earnings attributable to common shareholders for the six months ended, June 30, 2022, increased by $148 million to net earnings of $106 million compared to a net loss of $42 million in the same period in 2021. Earnings before income tax and net earnings attributable to common shareholders in the six month period ended June 30, 2022, increased primarily due to reversal of asset impairment charges impacted by the increase in discount rates, lower carbon compliance costs, lower depreciation, lower OM&#38;A and recognition of insurance related to the replacement costs for a tower at the Kent Hills facility and the liquidated damages recognized related to turbine availability at the Windrise wind facility partially offset by lower revenue and higher fuel and purchased power costs. The previous period also was impacted by higher gains on sales with the sale of Pioneer Pipeline in the second quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Cash flow from operating activities </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">for the three and six months ended June 30, 2022, decreased by $209 million and $15&#160;million, respectively, compared to the same periods in 2021, mainly due to lower cash flows resulting from lower production and lower revenues within all segments except for the Wind and Solar segment. In addition, for the three months ended June 30, 2022, operating cash flows decreased with an unfavourable change in working capital&#59; whereas, for the six month period ended June 30, 2022, operating cash flow increased as a result of favourable working capital changes. The change in working capital for the three and six months ended, June 30, 2022 is primarily due to movements in our collateral accounts related to high commodity prices and volatility in the markets. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">FCF,</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> one of the Company's key financial metrics, for the three and six months ended June 30, 2022, totaled $145 and $253 million, respectively, for the three and six months ended June 30, 2022, compared to $155 million and $296 million, respectively, in the same periods in 2021. This represents a decrease to FCF of $10 million and $43 million, driven primarily by lower adjusted EBITDA, partially offset by higher realized foreign exchange gains and a decrease in sustaining capital spending related to fewer planned maintenance turnarounds. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M7</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_19"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Significant and Subsequent Events</font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:112%">TransAlta Debuts New Brand Reiterating Commitment to a Clean Energy Future</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On June 20, 2022, the Company announced a new visual identity including logo and tagline &#34;Energizing the Future&#34;. The new visual identity encapsulates the TransAlta of today while reinforcing the Company&#8217;s focus as a leader in creating a carbon-neutral future for our customers.</font></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Conversion Results for Series C and D Preferred Shares</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 16, 2022, the Company announced that 1,044,299 of its 11,000,000 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C (&#8220;Series C Shares&#8221;) were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series D (&#8220;Series D Shares&#8221;) after having taken into account all election notices following the June 15, 2022 conversion deadline.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Court of Appeal Upholds TransAlta&#8217;s Favourable Force Majeure Arbitration Decision </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 9, 2022, the Alberta Court of Appeal released a unanimous decision dismissing ENMAX Energy Corporation (&#34;ENMAX&#34;) and the Balancing Pool's application seeking to set aside an arbitration decision in favour of the Company. The Court of Appeal upheld the Company&#8217;s claim of force majeure that arose when its Keephills 1 generating unit tripped offline in 2013. As a result of the decision, the Company&#8217;s claim of force majeure remains valid and the associated costs of the force majeure event will not be reassessed against TransAlta.</font></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Kent Hills Wind Facilities Outage Update</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On June 2, 2022, TransAlta Renewables announced its rehabilitation plan for the Kent Hills wind facilities together with the execution of amended and extended contracts with New Brunswick Power Corporation (&#34;NB Power&#34;) in respect of each of the Kent Hills 1, 2 and 3 wind facilities providing for an additional 10-year period to December 2045 and an effective 10 per cent reduction to the original contract prices from January 2023 through December 2033. In addition, both parties have agreed to work in good faith to evaluate the installation of a battery energy storage system at Kent Hills and to consider a potential repowering of Kent Hills at the end of life in 2045. The Company also obtained a waiver for the Kent Hills wind non-recourse bonds (&#34;KH Bonds&#34;) from the project bond holders and entered into a supplemental indenture with the bond holders that facilitates the rehabilitation of the Kent Hills 1 and 2 wind facilities. Refer to the Kent Hills Wind Facilities Rehabilitation section and Financial Capital section of this MD&#38;A for further detail.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TSX Acceptance of Normal Course Issuer Bid </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On May 24, 2022, the Toronto Stock Exchange (&#8220;TSX&#8221;) accepted the notice filed by the Company to renew its normal course issuer bid (&#8220;NCIB&#8221;) for a portion of its common shares. Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 common shares, representing approximately 7.16 per cent of its public float of common shares as at May 17, 2022. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading platforms on which the common shares are traded, based on the prevailing market price. Any common shares purchased under the NCIB will be cancelled. The period during which TransAlta is authorized to make purchases under the NCIB commenced on May 31, 2022 and ends on May 30, 2023, or such earlier date on which the maximum number of common shares are purchased under the NCIB or the NCIB is terminated at the Company&#8217;s election.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The NCIB provides the Company with a capital allocation alternative with a view to ensuring long-term shareholder value. TransAlta&#8217;s Board of Directors and Management believe that, from time to time, the market price of the common shares does not reflect their underlying value and purchases of common shares for cancellation under the NCIB may provide an opportunity to enhance shareholder value.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">During the six months ended June&#160;30, 2022, the Company purchased and cancelled a total of 1.4 million common shares at an average price of $12.50 per common share, for a total cost of $18 million. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mount Keith 132kV Transmission Expansion</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On May 3, 2022, TransAlta Renewables exercised its option to acquire an economic interest in the expansion of the Mount Keith 132kV transmission system in Western Australia, to support the Northern Goldfields-based operations of BHP Nickel West (&#34;BHP&#34;). Total construction capital is estimated at between AU$50 million and AU$53 million. Southern Cross Energy, a subsidiary of the Company, has entered into an engineering, procurement and construction agreement for the expansion. The project is being developed under the existing PPA with BHP, which has a term of 15 years. It is expected to be completed in the second half of 2023 and will generate annual adjusted EBITDA in the range of AU$6 million and AU$7 million. The project will facilitate the connection of additional generating capacity to our network to support BHP's operations and increase its competitiveness as a supplier of low-carbon nickel. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sarnia Cogeneration Facility Contract Extensions</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company executed contract extensions for the supply of electricity and&#47;or steam with the remaining three of its industrial customers at the Sarnia cogeneration facility. These agreements will extend the delivery term for electricity and&#47;or steam from Dec. 31, 2022 to April 30, 2031, in one case, and to Dec. 31, 2032, for the other two, with all agreements being subject to certain conditions, including the Company entering into a new contract with the Ontario Independent Electricity System Operator (the &#8220;IESO&#8221;). The current contract with the IESO, in respect of the Sarnia cogeneration facility expires on Dec. 31, 2025. On July 19, 2021, the IESO released its Annual Acquisition Report, which included draft details for medium- and long-term procurement mechanisms for capacity for 2026 and beyond for existing and new generation. The Company has bid into the procurement process developed by the IESO and is seeking to secure a contract extension for the Sarnia cogeneration facility following the end of the current contract term. The Company expects the IESO to announce the successful bids in the third quarter of 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Executed Long Term PPA for Remaining 30 MW at Garden Plain</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company entered into a long-term PPA for the remaining 30 MW of renewable electricity and environmental attributes at the Garden Plain wind project in Alberta with a new investment-grade globally recognized customer. The 130 MW Garden Plain wind project, which was announced in May 2021 with a 100 MW PPA contracted to Pembina Pipeline Corporation (&#34;Pembina&#34;), is now fully contracted with a weighted average contract life of approximately 17 years. Construction is underway with a target commercial operation date in the second half of 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Energy Impact Partners (&#34;EIP&#34;) Investment </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company has entered into a commitment to invest US$25 million over the next four years in EIP's Deep Decarbonization Frontier Fund 1 (the &#8220;Frontier Fund&#8221;). The Company invested US$6 million in May 2022. The investment in the Frontier Fund provides the Company with a portfolio approach to investing in emerging technologies and the opportunity to identify, pilot, commercialize and bring to market emerging technologies that will facilitate the transition to net-zero emissions.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Customer Update at White Rock Wind Projects </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, TransAlta identified Amazon Energy LLC (&#8220;Amazon&#8221;) as the customer for the 300 MW White Rock Wind projects, to be located in Caddo County, Oklahoma. On Dec. 22, 2021, Amazon and TransAlta entered into two long-term PPAs for the supply of 100 per cent of the generation from the projects. Construction is expected to begin in the second half of 2022 with a target commercial operation date in the second half of 2023. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MSCI Environmental, Social and Governance (&#34;ESG&#34;) Rating Upgrade</font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, TransAlta's MSCI ESG Rating was upgraded to 'A' from 'BBB'. The upgrade reflects the Company's strong renewable energy growth compared to peers. In 2021, the Company grew its installed renewable energy capacity by </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15 per cent </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">through acquisition and construction of solar and wind facilities and secured 600 MW in additional renewable energy projects. In line with its goal to reduce carbon emissions by 75 per cent from 2015 emissions levels by 2026, TransAlta also completed coal-to-gas conversions of its Canadian coal-fired facilities in 2021, nine years ahead of Alberta&#8217;s coal phase-out plan.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Horizon Hill Wind Project and Fully Executed Corporate PPA with Meta</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On April 5, 2022, TransAlta executed a long-term renewable energy PPA with a subsidiary of Meta Platforms Inc. (&#34;Meta&#34;), formerly known as Facebook, Inc., for 100 per cent of the generation from its 200 MW Horizon Hill wind project to be located in Logan County, Oklahoma. Under this agreement, Meta will receive both renewable electricity and environmental attributes from the Horizon Hill facility. The facility will consist of a total of 34 Vestas turbines with construction expected to begin in late 2022 and a target commercial operation date in the second half of 2023. TransAlta will construct, operate and own the facility. Total construction capital is estimated between US$290 million and US$310 million and is expected to be financed with a combination of existing liquidity and tax equity financing. Over 90 per cent of project costs are fixed under executed turbine supply agreements and engineering, procurement and construction agreements. The project is expected to generate average annual EBITDA between US$27 million and US$30 million, inclusive of production tax credits.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to the audited annual 2021 consolidated financial statements within our 2021 Annual Integrated Report and our unaudited interim condensed consolidated financial statements for the three and six months ended June&#160;30, 2022, for significant events impacting both prior and current year results. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M10</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_22"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Performance by Segment with Supplemental Geographical Information</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table provides the performance of our facilities across the regions in which we operate&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.662%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.316%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.714%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.201%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.717%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3 months ended June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Energy Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Corporate and Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Alberta</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">82</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(23)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada, excluding Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United States</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(23)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Loss before income taxes</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3 months ended June 30, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Energy Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate and Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(24)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canada, excluding Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(24)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6 months ended June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Energy Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Corporate and Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid 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style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">222</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada, excluding Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United States</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">76</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6 months ended June 30, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Energy Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate and Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">167&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">303&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canada, excluding Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United States</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Gas segment includes the segments previously known as Australian Gas and North American Gas and the coal-fired generation assets converted to gas from the segment previously known as Alberta Thermal.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) The Energy Transition segment includes the segment previously known as Centralia and the coal-fired generation assets not converted to gas and the mining assets from the segment previously known as Alberta Thermal. Keephills Unit 1 was retired Dec. 31, 2021 and Sundance Unit 4 was retired March 31, 2022. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. Presenting this from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison with prior periods&#8217; results. Please refer to the Segmented Financial Performance and Operating Results section of this MD&#38;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. See also the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M11</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_25"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Alberta Electricity Portfolio</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Approximately 52 per cent of our gross installed capacity is located in Alberta. Our portfolio of merchant assets in Alberta is a combination of hydro facilities, wind facilities, a battery storage facility, cogeneration facilities and converted natural gas-fired thermal facilities. Optimization of portfolio performance is driven by the diversity in fuel types, which enables portfolio management and allows for maximization of operating margins. It also provides us with capacity that can be monetized as ancillary services or dispatched into the energy market during times of supply tightness. A portion of the installed generation capacity in the portfolio has been hedged to provide cash flow certainty. Some of the wind, hydro and gas facilities within the Alberta Electricity Portfolio operate on long-term contracts.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Generating energy in Alberta is subject to market forces, rather than rate regulation. Energy from commercial generation is cleared through a wholesale electricity market. Energy is dispatched in accordance with an economic merit order administered by the A</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">lberta Electric System Operator (&#34;AESO&#34;)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">, based upon offers by generators to sell energy in the real-time energy-only market. Our merchant Alberta fleet operates under this framework and we internally manage our offers to sell energy.</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.912%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.073%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.114%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Wind and Solar </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Gas</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Production (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">406</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">450</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,826</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,682</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,118&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">134</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">281</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">189&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">355&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">92</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">168</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">241&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="15" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Gas</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Production (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">742</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">953</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,544</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,258</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">507&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,928&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">816&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,001&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">84</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">298</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">559</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">192&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">339&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">656&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">184</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">206</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">162</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">90</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">332</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">190&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:115%">(1) Units in the Gas and Energy Transition segments in prior period operated on coal. Keephills Unit 1 was retired Dec. 31, 2021 and Sundance Unit 4 was retired March 31, 2022.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Adjustments to revenues include the impact of unrealized mark-to-market gains or losses and realized gains and losses on closed exchange positions.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3)Adjustments to fuel and purchased power include the impact of coal mine depreciation and coal inventory write-downs at the Highvale mine in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">For the three and six months ended June 30, 2022, the Alberta Electricity Portfolio generated 2,682 GWh and 5,258 GWh of production, a decrease of 436 GWh and 743 GWh, respectively, compared to the same periods in 2021. Production was impacted by dispatch optimization and the retirement of Keephills Unit 1 on Dec. 31, 2021 and Sundance Unit 4 on March 31, 2022, partially offset by increased wind resources. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Gross margin for the three and six months ended June 30, 2022, was $168 million and $332 million, a decrease of $73 million and $89 million, respectively, compared to the same periods in 2021. Gross margin was negatively impacted by lower weather-driven demand and a better supplied market in 2022. Ancillary services revenue from the Hydro segment was lower in both periods as a result of lower ancillary prices driven by increasing competition in the ancillary services market. In addition, the Gas and Energy Transition segment results were impacted by lower production due to unit retirements and higher dispatch optimization in response to lower market heat rates. A significant portion of the portfolio was hedged below spot prices, which was partially offset by our favourable gas hedge positions and lower carbon costs. The decrease in gross margins were partially offset by higher gross margins in the Wind and Solar segment mainly due to higher production and higher realized prices.</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis</font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table provides information for the Company's Alberta Electricity Portfolio&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.848%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.166%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spot power price average per MWh</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$122</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$105&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$106</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$100&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Natural gas price (AECO) per GJ</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6.86</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.93&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$5.69</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$2.95&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance price per tonne</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realized merchant power price per MWh</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$114&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$106</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$109&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro energy spot power price per MWh</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$131</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$122&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$121</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$120&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro ancillary spot price per MWh</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$47</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$46</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$64&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind energy spot power price per MWh</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$51&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas and Energy Transition spot power price per MWh</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$127</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$121&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$115&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedged Volume</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,901</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,694&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,639</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,295&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedge position (percentage)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">88&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">91</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedged power price average per MWh</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$73</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$62&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$78</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$63&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power per MWh</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$59</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$31&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance cost per MWh</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$17&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Realized power price for the Alberta Electricity Portfolio is the average price realized as a result of the Company's merchant power sales (excluding assets under long-term contract) and portfolio optimization activities divided by total GWh produced.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Represents the percentage of production sold forward at the end of the reporting period for 2022. The hedge program is focused primarily on generation from the merchant assets in the Gas and Energy Transition segments.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Fuel and purchased power per MWh and carbon compliance cost per MWh are calculated on production from carbon-emitting generation segments in Gas and Energy Transition and carbon compliance cost per MWh includes compliance credits to settle a portion of our GHG obligation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The spot power price increased to $122 per MWh and $106 per MWh, respectively, for the three and six months ended June 30, 2022, from $105 per MWh and $100 per MWh compared to the same periods in 2021. Pool prices were higher on average for the first and second quarter as well as year to date, mainly as a result of a higher natural gas prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2022, the realized power price per MWh of production decreased by $9 and $3 per MWh, respectively, compared with the same periods in 2021. Lower realized merchant power pricing for energy across the fleet was due to optimization and was offset by lower realized pricing from ancillary services. The segment spot prices exclude gains and losses from hedging positions that are entered into in order to mitigate the impact of unfavourable market pricing. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2022, the Hydro ancillary spot power price decreased mainly due to higher ancillary price discounts driven by increased participants and supply into the ancillary market compared with the same periods in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2022, the fuel and purchased power cost per MWh of production increased by $28 per MWh and $25 per MWh, respectively, compared to the same periods in 2021, due to higher natural gas pricing, higher fixed gas transportation costs, partially offset by our hedge positions for gas prices and lower coal costs due to the cessation of mining operations in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2022, carbon compliance costs per MWh of production decreased by $12 per MWh and $11 per MWh, respectively, compared with the same periods in 2021, primarily due to the retirement of our coal fleet which resulted in lower carbon compliance costs and the usage of compliance credits to settle a portion of our GHG obligation from 2021. Carbon compliance prices have increased from $40 per tonne to $50 per tonne&#59; however, the shift to gas-fired generation effectively lowered our GHG compliance costs as natural gas combustion produces less GHG emissions than coal combustion. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M13</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_28"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Segmented Financial Performance and Operating Results</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reporting Segment Changes</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Segmented information is prepared on the same basis that the Company manages its business, evaluates financial results and makes key operating decisions. With the completion of the Clean Energy Transition plan and the announcement of our strategic focus on customer-centered renewable generation, the Company realigned its current operating segments during the fourth quarter of 2021 to better reflect the Company's current strategic focus and to align with the Company's Clean Electricity Growth Plan. The segment reporting changes reflect a corresponding change in how the President and Chief Executive Officer assesses the performance of the Company.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The primary changes are the elimination of the Alberta Thermal and the Centralia segments and the reorganization of the North American Gas and Australia Gas segments into a new &#34;Gas&#34; segment. The Alberta Thermal facilities that have been converted to gas are included in the Gas segment. The remaining assets previously included in Alberta Thermal, including the mining assets and those facilities not converted to gas and the remaining Centralia unit are included in a new &#34;Energy Transition&#34; segment. No changes have been made to the Hydro, Wind and Solar, Energy Marketing or the Corporate and Other segments. Prior year's metrics were restated to reflect the re-alignment of the operating segments. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consolidated Results</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table reflects the generation and summary financial information on a consolidated basis for each of our segments&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">LTA Generation (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Actual Production (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">567&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">533</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">554&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,121</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">911&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,072</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,605</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,380&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">176</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,566</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,824&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">290</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">484&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate and Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,461</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,688&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">LTA Generation (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Actual Production (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">975</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">975&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">905</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">914&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,574</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,081&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,341</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,957&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,246</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,871&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">326</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">304&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,458&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,343</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,900&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate and Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,820</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,229&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-style:italic;font-weight:400;line-height:120%">(1) Long-term average production (&#34;LTA Generation (GWh)&#34;) is calculated based on our portfolio as at June 30, 2022, on an annualized basis from the average annual energy yield predicted from our simulation model based on historical resource data performed over a period of typically 30-35 years for the Wind and Solar segments and 36 years for Hydro segment. LTA Generation (GWh) for Energy Transition is not considered as we are currently transitioning these units completely by the end of 2025 and the LTA Generation (GWh) for Gas is not considered as it is largely dependent on market conditions and merchant demand. LTA Generation (GWh) for the three and six months ended June 30, 2022, excluding the Kent Hills 1 and 2 wind facilities which are currently not in operation, is approximately 1,031 GWh and 2,379 GWh, respectively.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-style:italic;font-weight:400;line-height:120%">(2) Actual production levels are compared against the long-term average to highlight the impact of an important factor that affects the variability in our business results. In the short-term, for each of the Hydro and Wind and Solar segments, the conditions will vary from one period to the next and over time facilities will continue to produce in line with their long-term averages, which have proven to be reliable indicators of performance.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-style:italic;font-weight:400;line-height:120%">(3) These items are not defined and have no standardized meaning under IFRS. Please refer below in this MD&#38;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. See also the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_31"></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> Hydro</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:46.893%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.904%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross installed capacity (MW)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">925</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">925</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">925</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">925</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">LTA Generation (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">567&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">975</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">975&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Availability (%)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95.5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93.2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">96.1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">92.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">127</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">163</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Merchant production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">406</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">424&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">742</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total energy production (GWh)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">533</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">554&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">905</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">914&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ancillary service volumes (GWh)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">785</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">749&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,527</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,498&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta Hydro Assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Hydro assets and other revenue</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta Hydro Ancillary services</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">70</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Environmental attribute revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total gross revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">207&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net payment relating to Alberta Hydro PPA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">194&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 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2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Ancillary services as described in the AESO Consolidated Authoritative Document Glo</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">ssary.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Alberta Hydro Assets include 13 hydro facilities on the Bow and North Saskatchewan river systems. 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The amount in the first and second quarter of 2021 related to adjustments for the final payment under the Alberta PPA.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) During the three and six months ended June 30, 2021, $3 and $5 million related to station service costs for the Hydro segment was reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Availability, for the three and six months ended June 30, 2022, increased compared to the same periods in 2021, primarily due to lower planned and lower unplanned outages at our Alberta Hydro Assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Production, for the three and six months ended June 30, 2022, decreased by 21 GWh and 9 GWh, respectively, compared to the same periods in 2021, mainly due to lower water resources from a delayed spring runoff for our Alberta Hydro Assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Ancillary service volumes, for the three and six months ended June 30, 2022, increased by 36 GWh and 29 GWh, respectively, compared to the same periods in 2021, in line with normal annual variation.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted EBITDA, for the three and six months ended June 30, 2022, decreased by $8 million and $24 million, respectively, compared to the same periods in 2021, primarily due to weaker ancillary service realized prices in the Alberta market driven by increased participants and supply into the ancillary services market as a result of higher gas prices, as well as higher OM&#38;A costs due to increased insurance premiums. For further discussion on the Alberta market conditions and pricing, refer to the 2022 Financial Outlook section and Alberta Electricity Portfolio section of this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Sustaining capital expenditures for the three and six months ended June 30, 2022, were consistent with the same periods in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_34"></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wind and Solar</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.884%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95.3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">802</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,711</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,450&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Merchant production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">270</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">630</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">507&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total energy production (GWh)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,072</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,341</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,957&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar revenues</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">189</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Environmental attribute revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">171&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross margin</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">204</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net other operating income</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Supplemental information&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustaining  capital</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Kent Hills wind rehabilitation expenditures</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Insurance proceeds - Kent Hills</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The gross installed capacity in 2022 includes incremental capacity related to new facilities&#58; Windrise wind facility (206 MW), North Carolina Solar (122 MW) and Oldman wind facility (4 MW).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) For details of the adjustments to revenues and net other operating income included in adjusted EBITDA, refer to the Additional IFRS and Non-IFRS Measures section of this MD&#38;A. </font></div><div style="text-align:justify"><font 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Refer to the Kent Hills Wind Facilities Rehabilitation section of this MD&#38;A for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Availability, for the three and six months ended June 30, 2022, decreased compared to the same periods in 2021, primarily as a result of the unplanned outage at the Kent Hills 1 and 2 wind facilities and early-stage operational issues related to our Windrise wind facility in Alberta. As at June 30, 2022, the operational issues have been largely resolved and the facility is performing in line with expectations. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Production, for the three and six months ended June 30, 2022, increased by 246 GWh and 384 GWh, respectively, compared to the same periods in 2021, primarily due to higher incremental production from the Windrise wind facility and North Carolina Solar and higher wind resources, partially offset by lower production due to the extended site outage at the Kent Hills 1 and 2 wind facilities.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA, for the three and six months ended June 30, 2022, increased by $33 million and $46 million, respectively, compared to the same periods in 2021, primarily due to higher production, higher realized merchant pricing in Alberta, higher environmental attribute revenues and recognition of liquidated damages related to turbine availability at the Windrise wind facility, partially offset by an increase in transmission rates. The three and six month periods in 2021 included a one-time reimbursement as a result of the AESO transmission line loss ruling.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Sustaining capital expenditures for the three months ended June 30, 2022, were consistent with the same period in 2021. 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style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross installed capacity (MW)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,084</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,084&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,084</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,084&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Availability (%)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">93.9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">93.9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">831</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">843&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,771</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,766&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Merchant production (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,746</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,039&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,486</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,797&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchased power (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(26)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total production (GWh)</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,566</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,824&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,458&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">262</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">553</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">536&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">146</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">276</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross margin</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">302&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Supplemental information&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustaining capital</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) For details of the adjustments to revenues, fuel and purchased power and OM&#38;A included in adjusted EBITDA, refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Gas segment is a new segment as described in the Segmented Financial Performance and Operating Results section of this MD&#38;A. Included in the Gas segment is the previous North American Gas segment, Australian Gas segment and the facilities from the previous Alberta Thermal segment which have been converted to gas. The previous Alberta thermal facilities included in the Gas segment include Sheerness Units 1 and 2, Keephills Units 2 and 3 and Sundance Unit 6. </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Prior periods have been adjusted to be comparable to the current period and reflect operations as coal units.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Availability, for the three and six months ended June 30, 2022, increased compared to the same periods in 2021, primarily due to lower planned outages due to the completion of the coal-to-gas conversion of Keephills Unit 2 in the second quarter of 2021 and improved performance at Keephills Unit 3. The six month period availability was also positively impacted by the completion of the coal-to-gas conversion of Sheerness Unit 1 in the first quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Production for the three and six months ended June 30, 2022, decreased by 258 GWh and 227 GWh, respectively, compared to the same periods in 2021, mainly due to dispatch optimization of our Alberta assets, partially offset by higher production from our Ada cogeneration facility. The six month period was also partially offset by higher production in Ontario driven by strong demand.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted EBITDA, for the three and six months ended June 30, 2022, decreased by $59 million and $60&#160;million, respectively, compared to the same periods in 2021. The decreases were primarily due to lower production, higher natural gas prices and increased natural gas consumption, partially offset by lower carbon costs. The three and six months ended June 30, 2021, were additionally impacted by the unplanned short-term steam supply outages at the Sarnia cogeneration facility. Carbon costs in the period were lower as the facilities in the segment no longer operate on coal. The Company utilized 0.7 million tonnes of emission credits to settle the 2021 carbon compliance obligation, reducing our carbon compliance costs by $7 million in the period. In addition, during the three months ended June 30, 2022, adjusted EBITDA was negatively impacted by lower realized prices in Alberta resulting from hedging activities. For the six months ended June 30, 2022, legal fees were lower related to the South Hedland PPA dispute settlement. Refer to the Alberta Electricity Portfolio section within this MD&#38;A for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Sustaining capital expenditures for the three and six months ended June 30, 2022, decreased by $38 million and $58 million, respectively, compared to the same periods in 2021, mainly due to the timing of the Keephills Unit 2, Sundance Unit 6 and Sheerness Unit 1 coal-to-gas conversion outages being completed in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_40"></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Energy Transition</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.884%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,876&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">671</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted availability (%)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52.7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69.9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">71.9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78.3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract sales volume (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">830</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">830&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,650</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,650&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Merchant sales volume (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">328</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,529</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,063&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchased power (GWh)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(868)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(835)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,836)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,813)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,343</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,900&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">213</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel and 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">158&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Supplemental information&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Highvale mine reclamation spend</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Centralia mine reclamation spend</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustaining capital</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The gross installed capacity for the three and six months ended June 30, 2022, excludes Keephills Unit 1 (395 MW retired on Dec. 31, 2021), Sundance Unit 5 (406 MW retired on Nov. 1 2021) and, in addition, the three months ended June 30, 2022, excludes Sundance Unit 4 (406 MW retired on March 31, 2022).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Adjusted for dispatch optimization.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) For details of the adjustments to revenues, fuel and purchased power and OM&#38;A included in adjusted EBITDA, refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Energy Transition segment is a new segment as described in the </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Segment</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ed Financial Performance and Operating Results section of this MD&#38;A. Included in the Energy Transition segment is the previous Centralia segment, mine assets and the previous Alberta Thermal segment facilities that were not converted to gas. The previous Alberta thermal facilities included in the Energy Transition segment includes Keephills Unit 1 and Sundance Unit 4. Previous periods have been adjusted to be comparable to the current period.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted availability, for the three and six months ended June 30, 2022, decreased mainly due to the retirement of Keephills Unit 1 and Sundance Unit 4, partially offset by lower planned and unplanned outages at Centralia Unit 2 compared to the same periods in 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Production, decreased by 194 GWh and 557 GWh, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021, primarily due the retirement of Keephills Unit 1 and Sundance Unit 4, partially offset by higher availability on Centralia Unit 2. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA, decreased by $14&#160;million and $25&#160;million, respectively, for the three and six months ended June 30, 2022, compared to the same periods in 2021. The decrease is primarily due to the retirements of Keephills Unit 1 and Sundance Unit 4 and higher purchased power costs incurred due to higher power prices during the planned outage at Centralia in 2022, partially offset by higher production at Centralia and lower carbon costs in Alberta. Carbon costs were lower as the Alberta facilities in the segment no longer operated on coal and have now been retired. The Company utilized 0.5 million tonnes of emission credits to settle the 2021 carbon compliance obligation, reducing our carbon compliance costs by $5 million in the both the three and six months ended June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Mine reclamation spend for the Highvale and Centralia mines for the three and six months ended June 30, 2022, increased due to advancement of reclamation activities compared to the same periods in 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The sustaining capital expenditures for the three and six months ended June 30, 2022, increased by $4 million and $3 million, respectively, compared to the same periods in 2021, primarily due to planned maintenance for Centralia Unit 2.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_43"></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Energy Marketing</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.884%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Revenues</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) For details of the adjustments to revenues included in adjusted EBITDA, refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA, for the three and six months ended June 30, 2022, increased by $7 million and decreased $31 million, respectively compared to the same periods in 2021. The higher gross margin for the three months ended June 30, 2022, was due to short-term trading of both physical and financial power and gas products across all North American markets. The Energy Marketing team was able to capitalize on short-term volatility in the markets in which we trade without materially changing the risk profile of the business unit. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the six months ended June 30, 2022, results exceeded expectations due to favourable trading of both physical and financial power and gas products across all North American markets. The higher revenues for the six months ended June 30, 2021 were due to exceptional short-term volatility in the market.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M19</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_46"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Corporate</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:46.893%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.904%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-top:0.5pt solid 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style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total return swap (gains) losses</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CEWS funding received</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CEWS funding applied to incremental employment</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA excluding impact of total return swap and CEWS</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Supplemental information&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total sustaining capital</font></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate overhead costs and adjusted EBITDA are in line with expectations and consistent with the prior period for the three months ended June 30, 2022.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate overhead costs increased by $9 million for the six months ended June 30, 2022, compared to the same period in 2021. The six month period ended June 30, 2022, was impacted by higher realized gains from the total return swap on our share-based payment plans partially offset by the receipt of CEWS funding in the first quarter 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA, after removing the impact of the CEWS funding and total return swap for the six months ended June 30, 2022, increased by $7&#160;million, compared to the same period in 2021, primarily due to lower staffing costs, lower incentive payments and lower legal costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">For the three and six months ended June 30, 2022, sustaining capital expenditures were consistent with the same period in 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M20</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_64"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Selected Quarterly Information</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our results are seasonal due to the nature of the electricity market and related fuel costs. Higher maintenance costs are often incurred in the spring and fall when electricity prices are expected to be lower, as electricity prices generally increase in the peak winter and summer months in our main markets due to increased heating and cooling loads. Margins are also typically impacted in the second quarter due to the volume of hydro production resulting from spring runoff and rainfall in the Pacific Northwest, which impacts production at Centralia. Typically, hydroelectric facilities generate most of their electricity and revenues during the spring months when melting snow starts feeding watersheds and rivers. Inversely, wind speeds are historically greater during the cold winter months and lower in the warm summer months.</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.620%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.620%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.620%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.620%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q3 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q4 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q1 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2 2022</font></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">735&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">402&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">243&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(441)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">242&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow (used in) from operating activities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FFO</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">318&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">179&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net earnings (loss) attributable to common shareholders</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(456)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(78)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(80)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net earnings (loss) per share attributable to common shareholders,</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;&#160;&#160;basic and diluted</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.68)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.69&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(0.30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q3 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q4 2020</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q1 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q2 2021</font></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">514&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">642&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">322&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(168)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow from operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">257&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">257&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FFO</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss attributable to common shareholders</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(136)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(167)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net loss per share attributable to common shareholders,</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;&#160;&#160;basic and diluted</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.50)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.61)</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 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Refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) The current quarter composition was updated and the previous periods have been reported to be consistent. Refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) The cash flow used in operating activities for the second quarter of 2022, decreased compared to prior quarters due to unfavourable changes in working capital mainly due to movements in our collateral accounts related to higher commodity prices and volatility in the markets. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Basic and diluted earnings (loss) per share attributable to common shareholders is calculated each period using the weighted average common shares outstanding during the period. As a result, the sum of the earnings (loss) per share for the four quarters making up the calendar year may sometimes differ from the annual earnings (loss) per share.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net earnings (loss) attributable to common shareholders has also been impacted by the following variations and events&#58;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The continued extended outage of the Kent Hills 1 and 2 wind facilities from the fourth quarter of 2021 to the first and second quarter of 2022&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Insurance proceeds for the single collapsed tower at Kent Hills wind facilities of $7 million recognized in the second quarter of 2022&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Liquidated damages related to turbine availability at the Windrise wind facility recorded in the first and second quarter of 2022&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Lower carbon costs in the first quarter of 2022 related to going off-coal and utilization of compliance credits to settle a portion of our GHG obligation in the second quarter of 2022&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Keephills Unit 1 was retired in the fourth quarter of 2021 and Sundance Unit 4 was retired in the first quarter of 2022&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Acquisition of North Carolina Solar in the fourth quarter of 2021&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Sundance Unit 5 Repowering was suspended in the third quarter of 2021 and retired during 2021&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Gains relating to the sale of the Pioneer Pipeline in the second quarter of 2021 and gains on sale of Gas equipment in the third quarter of 2021&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The unplanned outages at Sarnia facility in the second quarter of 2021&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Alberta hydro facilities, Keephills Units 1 and 2 and Sheerness began operating on a merchant basis in the Alberta market effective Jan. 1, 2021&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Revenues declined due to weaker market conditions in 2020 as a result of the COVID-19 pandemic and low oil prices&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Sundance Unit 3 was retired in the third quarter of 2020&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.95pt">Accelerated plans to shut down the Highvale mine resulted in remaining future royalty payments being recognized as an onerous contract in the third quarter of 2021&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Sheerness going off-coal resulted in the remaining coal supply payments on the existing coal supply agreement being recognized as an onerous contract in the fourth quarter of 2020&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Accelerated shut-down of the Highvale mine increased mine depreciation included in the cost of coal. Coal inventory write-down incurred in the first three quarters of 2021 and third and fourth quarters of 2020&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Coal-related parts and materials inventory write-down incurred in the second and third quarters of 2021&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The impact of the updated provision estimates for the AESO transmission line loss rule during the first quarter of 2021 and the last two quarters of 2020&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Significant foreign exchange gains in the last two quarters of 2020&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The effects of asset impairment charges and reversals during all periods shown&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The effects of changes in decommissioning and restoration provisions for retired assets in all periods shown&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">The effects of changes in useful lives of certain assets during the third quarter of 2020&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Current tax expense consistently fluctuates with earnings before tax over the quarters due to the Energy Marketing and Australian operations continuing to be taxable. Future tax expense increased from 2021 mainly due to a valuation allowance taken against part of the Canadian operations.</font></div><div id="i38116e15179d46ad9ff458c8978b85d1_52"></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M22</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_49"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Strategy and Capability to Deliver Results</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Corporate strategy remains unchanged from that disclosed in the 2021 Annual MD&#38;A. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our goal is to be a leading customer-centered electricity company, committed to a sustainable future, focused on increasing shareholder value by growing our portfolio of high-quality generation facilities with stable and predictable cash flows. Our strategy includes meeting our customer needs for clean, low-cost, reliable electricity and providing operational excellence and continuous improvement in everything we do. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company's enhanced focus on renewable generation and storage solutions for customers is driven largely by global decarbonization policies and the increase in demand and growth projections in the renewable sector, namely for companies to achieve their environment, social and governance (&#34;ESG&#34;) ambitions. Refer to the ESG sections within our 2021 Annual MD&#38;A for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We expect the Company's adjusted EBITDA generated from renewable sources, including hydro, wind, solar and storage technologies, to increase from 35 per cent in 2020 to approximately 70 per cent by the end of 2025. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On Sept. 28, 2021, the Company announced the strategic targets and a five-year Clean Electricity Growth Plan that sets a focus towards investing in clean energy solutions that meet the needs of our industrial and corporate customers and communities. The Clean Electricity Growth Plan will largely be funded from current cash balances, cash generated from operations and asset-level financing.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As of Aug. 4, 2022, we have made significant progress in achieving the targets of the Clean Electricity Growth Plan. </font></div><div style="text-align:center"><img alt="chart-ab2080d787b54cc4ba4.jpg" src="chart-ab2080d787b54cc4ba4.jpg" style="height:230px;margin-bottom:5pt;vertical-align:text-bottom;width:180px"><img alt="chart-084809eae1f6478c8a8.jpg" src="chart-084809eae1f6478c8a8.jpg" style="height:220px;margin-bottom:5pt;vertical-align:text-bottom;width:170px"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font><img alt="chart-bfdac764e07c4917be4.jpg" src="chart-bfdac764e07c4917be4.jpg" style="height:230px;margin-bottom:5pt;vertical-align:text-bottom;width:180px"></div><div style="text-align:center"><img alt="image.jpg" src="image.jpg" style="height:21px;margin-bottom:5pt;vertical-align:text-bottom;width:147px"></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our progress towards achieving our strategic targets is summarized below&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.265%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:41.690%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Strategic Targets</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Goals</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Target</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Results</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Comments</font></td></tr><tr style="height:71pt"><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accelerate Growth in Customer-centered Renewables and Storage</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deliver 2 GW of renewable capacity with an estimated capital investment of $3 billion by the end of 2025. </font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ahead of Plan</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company delivered 200 MW of growth in the  first quarter with the Horizon Hill wind project.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">We have also advanced the Mount Keith 132kV transmission expansion to construction in Australia.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Our cumulative progress towards our target is 800 MW. </font></div></td></tr><tr style="height:71pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deliver incremental average annual EBITDA of $250 million.</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ahead of Plan</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Horizon Hill wind project will add incremental EBITDA in the range of US$27 - US$30 million and the Mount Keith 132kV transmission project will add incremental EBITDA in the range of AU$6 - AU$7 million.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Our cumulative progress towards our incremental EBITDA  target is approximately $135 million.</font></div></td></tr><tr style="height:71pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expand the Company's development pipeline to 5 GW by 2025 to enable a two-fold increase in its renewables fleet between 2025 and 2030.</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company continues to evaluate several opportunities to add new development sites to our pipeline. These include acquisitions of individual early stage development sites, small development portfolios and prospecting of new sites. In 2022, we have grown our renewable development pipeline by approximately 325 MW, in the United States and Canada.</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Take a Targeted Approach to Diversification</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Grow our asset base in our core geographies of Canada, Australia and the United States to realize diversification and value creation.</font></div></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company has successfully added new contracted renewable assets  in each of its three core geographies. We have diversified within the United States market through our North Carolina Solar acquisition and new Oklahoma investments which also added three new investment-grade customers.</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maintain Our Financial Strength and Capital Allocation Discipline</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deliver strong cash flow from our existing portfolio to allocate towards our funding priorities including growth, dividends and share buybacks.</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company had liquidity of $1.9 billion as of June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company returned $18 million in share buybacks in the first quarter of 2022.</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Define the Next Generation of Energy Solutions and Technologies </font></div></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Meet the needs of our customers and communities through implementation of innovative energy solutions and parallel investments in new complementary sectors  by the end of 2025.</font></div></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company has established an Energy Innovation team to progress our goals in this area. The team has recently completed an investment in Ekona Power Inc., an early-stage hydrogen production company, in order  to pursue commercialization of low cost, net-zero aligned, hydrogen. The Company also committed to an investment in EIP's Deep Decarbonization Frontier Fund 1, which provides a portfolio approach to investing in emerging technologies focused on net-zero emissions.</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lead in ESG Policy Development</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actively participate in policy development to ensure the electricity we provide contributes to emissions reduction, grid reliability and competitive energy prices to enable the successful evolution of the markets in which we operate and compete.</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company is actively engaging the Government of Canada and Government of Alberta regarding the proposed federal  Clean Electricity Standard. Throughout the engagement, TransAlta continues to provide input regarding how to achieve emissions reduction while maintaining necessary reliability and affordability.  </font></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Successfully Navigate through the COVID-19 Pandemic</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continue to maintain an effective response to COVID-19 and plan a safe return to our offices.</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">On track</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Continuing to monitor local public health authority and government guidelines in all jurisdictions in which we operate to promote the health and safety of all employees and contractors with our health and safety protocols.</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M24</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_55"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Growth</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company announced 200 MW of new build projects on April 5, 2022. In addition, the Company has 140 MW in advanced-stage development that it is actively pursuing. The current growth pipeline has a potential capacity ranging from 2,950 - 4,050 MW from projects in the early stages of development.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We are primarily evaluating greenfield opportunities in Alberta, Western Australia and the United States along with acquisitions in markets in which we have existing operations. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Projects Under Construction</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The following projects have been approved by the Board of Directors, have executed PPAs and are currently under construction. The projects under construction will be financed through existing liquidity in the near term. We will continue to explore project financing or tax equity as a long-term financing solution on an asset-by-asset basis. </font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.111%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.271%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:2.203%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.073%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.476%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.989%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.714%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:18.617%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total project</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Project</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Type</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Region</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">MW</font></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Estimated<br>spend</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Spent to<br>date</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Target completion date</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">PPA Term </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Average annual EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Status</font></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Garden Plain</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AB</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">130</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$190&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$200</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$81</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">H2 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">$14 - $15</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Fully contracted </font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Construction underway</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Turbine deliveries commence in July</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">On track to be completed on schedule</font></div></td></tr><tr><td colspan="6" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United States</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">White Rock Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OK</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">300</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$470</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$56</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">H2 2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$42 - US$46</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Long-term PPAs executed</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">All major equipment supply and EPC agreements executed </font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Detailed design and final permitting on track</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">On track to be completed on schedule</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Horizon Hill </font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OK</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">200</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$290&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$310&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$35</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">H2 2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">US$27 - US$30</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Long-term PPA executed</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">All major equipment supply and EPC agreements executed </font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">On track to be completed on schedule</font></div></td></tr><tr><td colspan="6" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Australia</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Northern Goldfields Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Hybrid Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">WA</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">48</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$69</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$73</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$45</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">H2 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">16</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$9 - AU$10</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Construction underway</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">Racking and panels have been delivered and battery is in transit to site </font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">On track to be completed on schedule</font></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Mount Keith 132kV Expansion</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Transmission</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">WA</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">n&#47;a</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$50</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$53</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$5</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">H2 2023</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">15</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">AU$6 - AU$7</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">EPC Agreement executed</font></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-indent:-13.5pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%;padding-left:9.57pt">On track to be completed on schedule</font></div></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) H2 is defined as the second half of the year.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) The PPA term is confidential for the White Rock Wind projects and Horizon Hill wind project.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) This item is not defined and has no standardized meaning under IFRS and is forward-looking. Please refer to the Additional IFRS measures and Non-IFRS Measures section of this MD&#38;A for further discussion.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) The Garden Plain wind project PPA is fully contracted, with Pembina, off-taking 100 MW of the total 130 MW capacity of the facility and the remaining 30 MW contracted to an investment-grade globally recognized customer. Refer to the Significant and Subsequent Events section of this MD&#38;A for further details. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M25</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_58"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Advanced Stage Development</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These projects have detailed engineering, advanced position in the interconnection queue and are progressing off-take opportunities. The following table shows the pipeline of future growth projects currently under advanced stage development&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:24.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.938%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.074%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.580%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.593%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.633%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Project</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Type</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Region</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross Installed Capacity (MW)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Estimated Spend</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average annual EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tempest</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$190 - $200</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15 - $18</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SCE Capacity Expansion</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Western Australia</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AU$80 - AU$100</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AU$9 - AU$12</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) This item is not defined and have no standardized meaning under IFRS and is forward-looking. Please refer to the Additional IFRS measures and Non-IFRS Measures section of this MD&#38;A for further discussion.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Early Stage Development</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">These projects are in the early stages and may or may not move ahead. Generally, these projects will have&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Collected meteorological data&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Begun securing land control&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Started environmental studies&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Confirmed appropriate access to transmission&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Started preliminary permitting and other regulatory approval processes. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table shows the pipeline of future growth projects currently under early stage development&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.397%"><tr><td style="width:1.0%"></td><td style="width:37.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.584%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.189%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.840%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Project</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Type</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Region</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross Installed Capacity (MW)</font></td></tr><tr><td colspan="12" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Early Stage Development</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Riplinger Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Willow Creek 1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Willow Creek 2</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">WaterCharger</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Battery Storage</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">180&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sunhills Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">McNeil Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canadian Wind Opportunities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Various</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazeau Pumped Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300 - 900</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta Thermal Redevelopment</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas, Solar, Storage</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">250 - 500</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,590 - 2,440</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United States</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prairie Violet</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illinois</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Old Town</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Illinois</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Big Timber</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pennsylvania</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Wind Prospects in the United States </font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Various</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">535&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Centralia site Redevelopment</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas, Solar, Storage</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Washington</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">250 - 500</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt 0 7pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,150 - 1,400</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Australia</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goldfields Expansions</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas, Solar, Wind</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Western Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">South Hedland Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Western Australia</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Canada, United States and Australia</font></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,950 - 4,050</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M26</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_61"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">2022 Financial Outlook</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to the 2022 Financial Outlook section in our 2021 Annual MD&#38;A for full details on our Outlook and related assumptions.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">T</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">he following table outlines our expectations on key financial targets and related assumptions for 2022&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.258%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.722%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measure</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 Target</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 Actual</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1,065 million - $1,185 million</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1,286 million</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$455 million - $555 million</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$585 million</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividend</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.20 per share annualized</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$0.20 per share annualized</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) These items are not defined and have no standardized meaning under IFRS. Please refer to the Reconciliation of Non-IFRS Measures section of this MD&#38;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. See also the Additional IFRS measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2)The 2021 Adjusted EBITDA and FCF were revised during the second quarter of 2022. Refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:40.152%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.273%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Range of key 2022 power and gas price assumptions</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Market</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Original Expectations</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Updated Expectations</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alberta Spot ($&#47;MWh)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$80 - $90</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$115 - $125</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mid-C Spot (US$&#47;MWh)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US$45 - US$55</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US$55 - US$65</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AECO Gas Price ($&#47;GJ)</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$3.60</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6.50 - $7.50</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Alberta spot price sensitivity&#58; a +&#47;- $1&#47;MWh change in spot price is expected to have a +&#47;- $3 million impact on Adjusted EBITDA for the balance of 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:40.152%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.273%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other assumptions relevant to the 2022 financial outlook</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Original Expectations</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Updated Expectations</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustaining capital</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$150 million - $170 million</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">no revision</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing adjusted gross margin</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$95 million -$115 million</font></td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$110 million - $130 million</font></div></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) During 2022, the Company updated expectations for adjusted gross margin and is tracking above the midpoint.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Hedging</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.358%"><tr><td style="width:1.0%"></td><td style="width:49.061%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:15.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.515%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Range of hedging assumptions</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Full year 2023</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedged production (GWh)</font></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,653&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,410&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,629&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedge price ($&#47;MWh)</font></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedged gas volumes (GJ)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17 Million</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14 Million</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58 million</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hedge gas prices ($&#47;GJ)</font></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.90&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.50&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.24&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our overall performance for the second quarter of 2022 was within expectations. Although </font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">the Company has raised annual expectations for Energy Marketing, the Company continues to track against stated guidance for 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operations</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following provides updates to our original assumptions included in the 2022 Financial Outlook.</font></div><div><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Market Pricing </font></div><div><img alt="chart-b8eb17c9a76d4d3c8df.jpg" src="chart-b8eb17c9a76d4d3c8df.jpg" style="height:180px;margin-bottom:5pt;vertical-align:text-bottom;width:300px"><img alt="chart-8e2c425c54a547c0911.jpg" src="chart-8e2c425c54a547c0911.jpg" style="height:180px;margin-bottom:5pt;vertical-align:text-bottom;width:300px"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the second quarter of 2022, we saw continuing strong merchant pricing levels in Alberta and the Pacific Northwest as a result of higher natural gas prices across North America. Prices in Alberta for the balance of year are now trading above prices last year due to higher natural gas prices, which also raises the cost to import power from the Pacific Northwest. This is offset by fewer planned outages and the forecasted additions of new wind and solar supply expected to achieve commercial operation in late 2022. Higher quarter-over-quarter pricing in the Pacific Northwest is being impacted by elevated US natural gas prices and cooler weather that delayed runoff until late in the quarter. Ontario power prices for the second half of 2022 are expected to be higher compared to the same periods in 2021 due to higher natural gas prices and additional nuclear refurbishment outages.</font></div><div style="text-align:justify"><img alt="chart-e16657333e934084b24.jpg" src="chart-e16657333e934084b24.jpg" style="height:170px;margin-bottom:5pt;vertical-align:text-bottom;width:300px"><img alt="chart-e9b2a78265c0434aa74.jpg" src="chart-e9b2a78265c0434aa74.jpg" style="height:170px;margin-bottom:5pt;vertical-align:text-bottom;width:300px"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">AECO natural gas prices for the balance of 2022 are almost $2&#47;GJ higher than for the same periods in 2021 due to overall tighter market conditions across North America. </font></div><div><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Sustaining Capital Expenditures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our estimate for total sustaining capital is as follows&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.342%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.611%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.848%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.073%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.076%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Category</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spend for 3 months ended June 30, 2022</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spend to date as at June 30, 2022</font></div></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Expected spend in 2022</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total sustaining capital</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$150&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$170&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total sustaining capital expenditures for the six months ended June 30, 2022, were $52 million lower compared to the same period in 2021, mainly due to lower planned major maintenance turnarounds on the coal-to-gas conversions related to Keephills Unit 2, Sundance Unit 6 and Sheerness Unit 1.</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Kent Hills wind facilities rehabilitation capital expenditure has been segregated from our sustaining capital assumptions range due to the extraordinary nature of this expenditure. Refer to the Kent Hills Wind Facilities Rehabilitation section of this MD&#38;A for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liquidity and Capital Resources</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We expect to maintain adequate available liquidity under our committed credit facilities. We currently have access to $1.9 billion in liquidity, including $0.9 billion in cash. We also expect to be well positioned to refinance the upcoming debt maturity in 2022 in due course. The funds required for committed growth, Kent Hills wind facilities rehabilitation and sustaining capital and productivity projects are not expected to be significantly impacted by the current economic environment.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_1124"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Kent Hills Wind Facilities Rehabilitation</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Kent Hills 1 and 2 wind facilities are not currently in operation following the tower failure event that occurred in September 2021. This event has taken approximately 150 MW of gross production offline temporarily</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.85pt;font-weight:400;line-height:112%;position:relative;top:-3.15pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">. Following extensive independent engineering assessments and a root cause failure analysis, it was determined that all 50 turbine foundations at the Kent Hills 1 and 2 wind facilities require full foundation replacements. The outage is expected to result in foregone revenue of approximately $3 million per month on an annualized basis (assuming all 50 turbines at the Kent Hills 1 and 2 wind facilities are offline), based on average historical wind production, with revenue expected to be earned as the wind turbines are returned to service.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Following the identification of the foundation issues at the Kent Hills 1 and 2 wind facilities, Kent Hills Wind LP (&#34;KHLP&#34;) provided notice to BNY Trust Company of Canada, as trustee (the &#8220;Trustee&#8221;) that events of default may have occurred under the trust indenture governing the terms of such bonds. On June&#160;1, 2022, the Company obtained a waiver from the Trustee to remedy the events of default and concurrently entered into a supplemental indenture that facilitates the rehabilitation of the Kent Hills 1 and 2 wind facilities.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">KHLP has entered into agreements with vendors to complete the rehabilitation of the Kent Hills 1 and 2 wind facilities and has commenced execution of its rehabilitation plan which consists of dismantling all 49 remaining turbines, demolishing and removing all existing tower foundations, replacing them with newly-designed foundations, reassembling the wind turbine towers and generators, replacing the wind turbine that collapsed and testing each wind turbine generator before returning it to service. Each turbine at Kent Hills 1 and 2 wind facilities, will return to service as soon as its foundation is replaced and the turbine is reassembled and tested. The current estimate of the capital expenditures is approximately $120&#160;million, inclusive of contingency. Rehabilitation for the Kent Hills 1 and 2 wind facilities is targeted to be completed by mid-2023. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Company is actively evaluating all options that may be available to recover the rehabilitation costs from third parties and their insurance providers and intends to pursue claims to recover costs and related damages from those parties. On June 30, 2022, the Company recognized a $7 million insurance recovery within net operating other income, related to the replacement costs for the single collapsed tower.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">In addition, during the second quarter of 2022, KHLP completed negotiations with NB Power and amended the existing power purchase agreements (&#34;PPAs&#34;) to provide NB Power with an effective 10 per cent reduction to the original contract period from January 2023 to December 2033 and to extend the original contract terms for an additional 10-year period through to December 2045. During the extended period after 2035, the contract prices in the agreements have been set to align with current competitive pricing for wind generation and include escalators intended to reflect inflation. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, KHLP received repayment of $10 million of the Kent Hills Wind LP loan receivable, which was required as part of the waiver and amendment made to the KH Bonds. In addition, the loan receivable agreement with KHLP's 17 per cent partner, Natural Forces Technologies Inc was amended and its original maturity date of Oct. 2, 2022 was extended to October 2027. As at June 30, 2022, $45 million (Dec. 31, 2021 &#8212; $55 million) was outstanding. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> The Kent Hills 1 and 2 wind facilities lost production is based on average historical wind production.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M29</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_67"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Position</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table highlights significant changes in the unaudited interim condensed consolidated statements of financial position from Dec. 31, 2021, to June 30, 2022&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:46.893%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.235%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.235%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.237%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Increase&#47;(decrease)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">898</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">947&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,027</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">651&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">603</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">287</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">291&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,815</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,197&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">618&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management assets</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">308</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">399&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(91)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment, net</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,320&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(175)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-current assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,318</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,310&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,771</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,029&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(258)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,226&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,146</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">689&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">457&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">588</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">327&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facilities, long-term debt and lease liabilities (current)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">690</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">844&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">92</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total current liabilities</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,516</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,931&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">585&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facilities, long-term debt and lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,489</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,423&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Decommissioning and other provisions (long-term)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">588</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(191)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Risk management liabilities (long-term)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">205</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Defined benefit obligation and other long-term liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">212</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-current liabilities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,102</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total non-current liabilities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,596</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,702&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(106)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total liabilities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,633&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity attributable to shareholders</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,574</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,582&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 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0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities and equity</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,586</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,226&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Includes restricted cash, prepaid expenses, inventory and assets held for sale.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes investments, long-term portion of finance lease receivables, right-of-use assets, intangible assets, goodwill, deferred income tax assets and other assets.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes current portion of decommissioning and other provisions, current portion of contract liabilities, income taxes payable and dividends payable.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) Includes exchangeable securities, deferred income tax liabilities and contract liabilities.</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Significant changes in TransAlta's unaudited interim condensed consolidated statements of financial position were as follows&#58;</font></div><div><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Working Capital</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The excess of current assets over current liabilities, including the current portion of long-term debt and lease liabilities, was $299 million as at June&#160;30, 2022, (Dec. 31, 2021 - $266 million). Our working capital increased compared to the previous period mainly due to the reclassification of the KH Bonds to long-term liabilities as a result of the waiver obtained and lower operational payables. This was partially offset by movements in the collateral accounts. Our collateral received (included in accounts payable and accrued liabilities) is significantly higher at June 30, 2022, compared to Dec. 31, 2021 and is partially offset by the collateral paid to counterparties (included in trade and other receivables). The change in the collateral posted is largely related to high commodity prices and volatility in the markets. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current assets increased by $618 million to $2,815 million as at June&#160;30, 2022, from $2,197 million as at Dec. 31, 2021, mainly due to higher trade and other receivables due to higher collateral posted, higher risk management assets resulting from volatility in market prices partially offset by lower cash and cash equivalents. As at June 30, 2022, the Company had posted $403 million (Dec. 31, 2021 - $55 million) of cash collateral received related to derivative instruments in a net asset position.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current liabilities increased by $585 million from $1,931 million as at Dec. 31, 2021 to $2,516 million as at June&#160;30, 2022, mainly due to an increase in collateral received associated with counterparty obligations in accounts payable, an increase in risk management liabilities primarily due to volatility in market prices&#59; partially offset by the reclassification of the KH Bonds to long-term as a result of the waiver obtained. As at June 30, 2022, the Company held $604 million (Dec. 31, 2021 - $18 million) of cash collateral received related to derivative instruments in a net asset position.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current assets at June&#160;30, 2022, are $6,771 million, a decrease of $258 million from $7,029 million as at Dec. 31, 2021. The decrease was primarily due to lower PP&#38;E relating to increased discount rates on decommissioning provisions of $106 million, impairment of assets of $27 million and depreciation expense recognized in the period. In addition, risk management assets are lower due to volatility in market pricing and contract settlements. These impacts were partially offset by increases to PP&#38;E for the construction of the Horizon Hill wind project, White Rock Wind projects, Northern Goldfields Solar project and Garden Plain wind project.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current Liabilities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current liabilities as at June&#160;30, 2022, are $4,596 million, a decrease of $106&#160;million from $4,702 million as at Dec. 31, 2021, mainly due to a $211 million decrease in the long-term decommissioning and restoration provision as a result of increased discount rates and a $46&#160;million decrease in defined benefit obligation due to changes in discount rate assumptions, partially offset by a $66&#160;million increase in long-term debt and lease liabilities resulting from the reclassification of the KH Bonds to long-term as a result of the waiver obtained, net of the scheduled debt repayments and an increase in risk management liabilities due to the volatility in the market and new contracts. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total Equity</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As at June&#160;30, 2022, the decrease in total equity of $119 million was mainly due to net losses on cash flow hedges of $169 million, distributions to non-controlling interests of $72 million, share repurchases under the NCIB of $18 million, the effect of share-based payment plans of $11 million and common share and preferred share dividends of $13 million and $10 million, respectively, partially offset by net earnings for the period of $147 million and actuarial gains on defined benefit plans of $36 million.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_70"></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Capital</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company is focused on maintaining a strong balance sheet and financial position to ensure access to sufficient financial capital. </font></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital Structure</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our capital structure consists of the following components as shown below&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.678%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">&#160;$ </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">&#160;% </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">&#160;$ </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">&#160;% </font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Corporation</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net senior unsecured debt</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Recourse debt - CAD debentures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">251</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Recourse debt - US senior notes </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">896</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">888&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(680)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; other cash and liquid assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net senior unsecured debt</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">468</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other debt liabilities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable debentures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">337</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-recourse debt</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:12.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TAPC Holdings LP bond</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OCP bond</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total net debt - TransAlta Corporation</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,236</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,199&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net TransAlta Renewables reported debt</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pingston bond</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Melancthon Wolfe Wind bond</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">235&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">New Richmond Wind bond</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kent Hills Wind bond</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">212</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Windrise Wind bond  </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">171&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(218)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(244)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt on TransAlta Renewables Economic Investments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">US tax equity financing</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">122</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">South Hedland non-recourse debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">691</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">732&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total net debt - TransAlta Renewables</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,380</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,437&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total consolidated net debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)(5)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,616</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,636&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interests</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">900</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,011&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable preferred securities</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">400</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity attributable to shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Common shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,893</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,901&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Preferred shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">942</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">942&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contributed surplus, deficit and accumulated other comprehensive income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,261)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,261)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(40)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total capital</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,490</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,629&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-style:italic;font-weight:400;line-height:120%">(1) Includes principal portion of OCP restricted cash in 2021 and fair value asset (liability) of hedging instruments on debt.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-style:italic;font-weight:400;line-height:120%">(2) TransAlta Renewables has an economic interest in the entities holding these debts.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-style:italic;font-weight:400;line-height:120%">(3) TransAlta Renewables has an economic interest in the Australia entities, which includes the AU$789 million senior secured notes.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-style:italic;font-weight:400;line-height:120%">(4) The tax equity financing for Skookumchuck wind, an equity accounted joint venture, is not represented in these amounts.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-style:italic;font-weight:400;line-height:120%">(5) The total consolidated net debt excludes the exchangeable preferred securities as they are considered equity with dividend payments for credit purposes. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit Facilities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company's credit facilities are summarized in the table below&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.201%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.201%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.117%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.922%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at June 30, 2022</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Facility<br>size</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Utilized</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Available<br>capacity</font></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity<br>date</font></td></tr><tr style="height:32pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding letters of credit</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Actual drawings</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Corporation</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Committed syndicated bank facility</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">888</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">362</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q2 2026</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canadian committed bilateral credit facilities</font></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">240</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q2 2024</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Committed credit facility</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102</font></td><td colspan="3" style="padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598</font></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Q2 2026</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,190</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,158</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,032</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) TransAlta has obligations to issue letters of credit and cash collateral to secure potential liabilities to certain parties, including those related to potential environmental obligations, commodity risk management and hedging activities, pension plan obligations, construction projects and purchase obligations. At June&#160;30, 2022, we provided cash collateral of $403 million.</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) TransAlta has letters of credit of $150&#160;million and TransAlta Renewables has letters of credit of $102&#160;million issued from uncommitted demand facilities&#59; these obligations are backstopped and reduce the available capacity on the committed credit facilities. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the committed syndicated credit facilities were extended by one year to June 30, 2026 and the committed bilateral credit facilities were extended by one year to June 30, 2024. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-Recourse Debt</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Melancthon Wolfe Wind LP, Pingston Power Inc., TAPC Holdings LP, New Richmond Wind LP, Kent Hills Wind LP, TEC Hedland PTY Ltd notes, Windrise Wind LP and TransAlta OCP LP non-recourse bonds are subject to customary financing conditions and covenants that may restrict the Company&#8217;s ability to access funds generated by the facilities&#8217; operations. Upon meeting certain distribution tests, typically performed once per quarter, the funds are able to be distributed by the subsidiary entities to their respective parent entity. These conditions include meeting a debt service coverage ratio prior to distribution, which was met by these entities in the second quarter of 2022, except in relation to the KH Bonds as discussed below. The next debt service coverage ratio is calculated in the third quarter of 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Kent Hills Wind Facilities Rehabilitation</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">In the fourth quarter of 2021, the Company provided notice to the Trustee that events of default may have occurred under the trust indenture governing the terms of the KH Bonds. During the second quarter of 2022, the Company obtained a waiver and entered into a supplemental indenture that facilitated the rehabilitation of the Kent Hills 1 and 2 wind facilities. Upon obtaining the waiver, the Company reclassified a portion of the carrying value outstanding of $212 million (face value $215 million) for the KH Bonds to non-current liabilities with the exception of the scheduled principal repayments due within the next twelve months from June 30, 2022. In accordance with the supplemental indenture, Kent Hills Wind LP cannot make any distributions to its partners until the foundation replacement work has been completed. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Between 2022 and 2024, we have $865 million of debt maturing, including $518 million of recourse debt, with the balance mainly related to scheduled non-recourse debt repayments. We currently expect to refinance the senior notes maturing in 2022.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Returns to Providers of Capital</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Net Interest Expense</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The components of net interest expense are shown below&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.884%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on debt</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on exchangeable debentures</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on exchangeable preferred shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on lease liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credit facility fees, bank charges and other interest</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax shield on tax equity financing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net interest expense</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">129</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net interest expense for the three months 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Preferred shares issued and outstanding, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39.0</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39.0</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.0&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Brookfield invested $400 million in consideration for redeemable, retractable, first preferred shares. For accounting purposes, these preferred share are considered debt and disclosed as such in the consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 16, 2022, the Company announced that 1,044,299 of its 11,000,000 currently outstanding Series C Shares were tendered for conversion, on a one-for-one basis, into Series D Shares after having taken into account all election notices following the June 15, 2022 conversion deadline.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-Controlling Interests</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As at June 30, 2022, the Company owns 60.1 per cent (June 30, 2021 - 60.1 per cent) of TransAlta Renewables. TransAlta Renewables is a publicly traded company whose common shares are listed on the TSX under the symbol &#8220;RNW.&#8221; TransAlta Renewables holds a diversified, highly contracted portfolio of assets with comparatively lower carbon intensity. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We also own 50.01 per cent (June 30, 2021 - 50.01 per cent) of TA Cogen, which owns, operates or has an interest in five natural-gas-fired facilities (Ottawa, Windsor, Fort Saskatchewan and Sheerness Unit 1 and Unit 2). Since we own a controlling interest in TA Cogen and TransAlta Renewables, we consolidate the entire earnings, assets and liabilities in relation to those assets. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Reported earnings attributable to non-controlling interests for the three and six months ended June&#160;30, 2022, was $11 million and $31 million, respectively, a decrease of $19 million and $30 million compared to the same periods in 2021. Earnings from TA Cogen for the three and six months ended June&#160;30, 2022, decreased compared with the same periods in 2021, mainly due to higher gas commodity prices, transportation costs and lower production for our Sheerness units. Earnings from TransAlta Renewables for the three and six months ended June&#160;30, 2022, decreased compared with the same periods in 2021, primarily due lower finance income related to subsidiaries of TransAlta, higher asset impairments, higher interest and depreciation costs associated with the commissioning and financing of the Windrise wind facility, higher income tax expense and lower foreign exchange gains. This was partially offset by higher revenues, the receipt of insurance proceeds for the replacement costs for the single collapsed tower at the Kent Hills facility, and recording liquidated damages related to turbine availability on the Windrise wind facility. Finance income related to subsidiaries of TransAlta was lower as more distributions were classified as return of capital.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div><div id="i38116e15179d46ad9ff458c8978b85d1_73"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Other Consolidated Analysis</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Commitments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Please refer to our Other Consolidated Analysis section of the 2021 Annual MD&#38;A for a complete listing of commitments we have incurred either directly or through interests in joint operations. The Company has entered into the following material contractual commitments, as at June 30, 2022&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the second quarter of 2022, the Company entered into an engineering, procurement and construction agreement for approximately $37 million (AU$41 million) related to the Mount Keith 132kV Expansion Project. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additionally, in the second quarter of 2022, the Company entered into agreements for $86 million to complete the rehabilitation at the Kent Hills 1 and 2 wind facilities.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">For updates on the Company's Growth projects, refer to the Strategy and Capability to Deliver Results section of the this MD&#38;A for further details.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Conting</font><font style="background-color:#ffffff;color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">encies&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For the current material outstanding contingencies, please refer to Note 36 of the 2021 audited annual consolidated financial statements. Material changes to the contingencies have been described below.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Hydro Power Purchase Arrangement (&#34;Hydro PPA&#34;) Emission Performance Credits</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Balancing Pool is claiming entitlement to the emission performance credits (&#34;EPCs&#34;) earned by the Alberta Hydro facilities as a result of TransAlta opting those facilities into the Carbon Competitiveness Incentive Regulation and Technology Innovation and Emissions Reduction Regulation from 2018-2020 inclusive. The Balancing Pool claims ownership of the EPCs because it believes the change-in-law provisions under the Hydro PPA require the EPCs to be passed through to the Balancing Pool. TransAlta has not received any benefit from the EPCs nor from any purported change in law and believes that the Balancing Pool has no rights to these credits. An arbitration has commenced and the hearing is scheduled for Feb. 6 to 10, 2023. TransAlta holds approximately 1.75 million EPCs with no recorded book value that were created between 2018-2020, which are at risk as a result of the Balancing Pool's claim. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M35</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Keephills 1 Stator Force Majeure</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Balancing Pool and ENMAX Energy Corporation (&#34;ENMAX&#34;) were seeking to set aside an arbitration award on the basis that they did not receive a fair hearing. The Alberta Court of Queen&#8217;s Bench dismissed the Balancing Pool and ENMAX&#8217;s allegations of unfairness on June 26, 2019. The Balancing Pool and ENMAX, appealed this decision to the Court of Appeal, which was heard on Jan. 27, 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On June 9, 2022, the Court of Appeal released a unanimous decision dismissing ENMAX and the Balancing Pool's application. The Court of Appeal upheld the Company&#8217;s claim of force majeure that arose when its Keephills 1 generating unit tripped offline in 2013. As a result of the decision, the Company&#8217;s claim of force majeure remains valid and the associated costs of the force majeure event will not be reassessed against TransAlta. ENMAX and the Balancing Pool have until Aug. 8, 2022 to file an application at the Supreme Court of Canada for permission to appeal the Court of Appeal's decision. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Sarnia Outages</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Sarnia cogeneration facility experienced three separate outage events between May 19, 2021 and June 9, 2021 that resulted in steam interruptions to its industrial customers. As a result, the customers submitted claims for liquidated damages under the applicable agreements. Steam supply disruptions of this nature are atypical and infrequent at the Sarnia cogeneration facility. A root cause failure analysis was completed for the three outages, which concluded that all three outages do not qualify as events of force majeure. As such, liquidated damages in the amount of $12 million have been paid by TransAlta (SC) LP for the three outages in the second quarter of 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">There have been no other material updates to any of the contingencies in the three and six month period ended June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_76"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Cash Flows</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following chart highlights significant changes in the consolidated statements of cash flows&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.188%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.806%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Increase&#47; (decrease)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of period</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">947</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provided by (used in)&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 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0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(201)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(273)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation of foreign currency cash</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">898</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">642&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash provided by operating activities for the six months ended June 30, 2022, decreased compared with the same period in 2021 primarily due to lower cash flow resulting from lower production and revenues for all segments except the Wind and Solar segment, offset by higher production and higher revenues in the Wind and Solar segment and favourable changes in working capital from movements in the collateral accounts related to high commodity prices and volatility in the markets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash used in investing activities for the six months ended June 30, 2022, increased compared with the same period in 2021, largely due to&#58; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Previous year included proceeds received on the sale of the Pioneer Pipeline sold in 2021 ($128&#160;million)&#59; partially offset by&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Lower cash spend on project construction activities in PP&#38;E ($16 million)&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Lower non-cash working capital related to the timing of construction payables for the assets under construction ($38 million)&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Higher loan receivable receipts and lower advances on loans receivable ($12&#160;million)&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Higher restricted cash receipts related to funding principal debt repayments ($10 million).</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash used in financing activities for the six months ended June 30, 2022, decreased compared with the same period in 2021, largely due to&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Lower repayments under the Company's credit facilities ($114 million)&#59; partially offset by&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Higher repayments on long-term debt ($14 million)&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Higher common share repurchases under the NCIB ($14 million)&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Higher dividends paid on common shares ($3 million)&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Increased distributions paid to subsidiaries' non-controlling interests ($5 million)&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:15.37pt">Lower proceeds on issuances of common shares ($7 million).</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_79"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Instruments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to Note 15 of the notes to the audited annual 2021 consolidated financial statements and Note 11 and 12 of our unaudited interim condensed consolidated financial statements as at and for the six months ended June 30, 2022, for details on Financial Instruments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We may enter into commodity transactions involving non-standard features for which observable market data is not available. These are defined under IFRS as Level III financial instruments. Level III financial instruments are not traded in an active market and fair value is, therefore, developed using valuation models based upon internally developed assumptions or inputs. Our Level III fair values are determined using data such as unit availability, transmission congestion, or demand profiles. Fair values are validated on a quarterly basis by using reasonably possible alternative assumptions as inputs to valuation techniques and any material differences are disclosed in the notes to the financial statements.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At June 30, 2022, Level III instruments had a net liability carrying value of $407 million (Dec. 31, 2021 - net asset of $159 million), mainly due to market price changes on existing and new contracts. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our risk management profile and practices have not changed materially from Dec. 31, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_82"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Additional IFRS Measures and Non-IFRS Measures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">An additional IFRS measure is a line item, heading or subtotal that is relevant to an understanding of the unaudited interim condensed consolidated financial statements but is not a minimum line item mandated under IFRS, or the presentation of a financial measure that is relevant to an understanding of the consolidated financial statements but is not presented elsewhere in the consolidated financial statements. We have included line items entitled gross margin and operating income (loss) in our unaudited interim condensed consolidated statements of earnings (loss) for the three and six months ended June 30, 2022 and 2021. Presenting these line items provides management and investors with a measurement of ongoing operating performance that is readily comparable from period to period.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We use a number of financial measures to evaluate our performance and the performance of our business segments, including measures and ratios that are presented on a non-IFRS basis, as described below. Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from our audited annual 2021 consolidated financial statements and the unaudited interim condensed consolidated statements of earnings (loss) for the three and six months ended June 30, 2022, prepared in accordance with IFRS. We believe that these non-IFRS amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better understanding of how management assesses results.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-IFRS amounts, measures and ratios do not have standardized meanings under IFRS. They are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from, or as an alternative for, or more meaningful than our IFRS results. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-IFRS Financial Measures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA, FFO, FCF, total net debt, total consolidated net debt and adjusted net debt are non-IFRS measures that are presented in this MD&#38;A. See the Segmented Financial Performance and Operating Results, Selected Quarterly Information, Financial Capital and Key Financial Non-IFRS Ratios sections of this MD&#38;A for additional information, including a reconciliation of such non-IFRS measures to the most comparable IFRS measure.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjusted EBITDA </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">In the fourth quarter of 2021, comparable EBITDA was relabeled as adjusted EBITDA to align with industry standard terminology. Each business segment assumes responsibility for its operating results measured to adjusted EBITDA. Adjusted EBITDA is an important metric for management that represents our core business profitability. In the second quarter of 2022, our reported EBITDA composition was adjusted to include the impact of closed positions that are effectively settled by offsetting positions with the same counterparty to reflect the performance of the assets and Energy Marketing segment in the period in which the transactions occur. Accordingly, the Company has applied this composition to all previously reported periods. Interest, taxes, depreciation and amortization are not included, as differences in accounting treatments may distort our core business results. In addition, certain reclassifications and adjustments are made to better assess results excluding those items that may not be reflective of ongoing business performance. This presentation may facilitate the readers analysis of trends. Adjusted EBITDA is a non-IFRS measure. The following are descriptions of the adjustments made.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjustments to revenue</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Certain assets we own in Canada and in Australia are fully contracted and recorded as finance leases under IFRS. We believe it is more appropriate to reflect the payments we receive under the contracts as a capacity payment in our revenues instead of as finance lease income and a decrease in finance lease receivables. </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Adjusted EBITDA is adjusted to exclude the impact of unrealized mark-to-market gains or losses and unrealized foreign exchange gains or losses on commodity transactions. </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Gains and losses related to closed positions effectively settled by offsetting position with exchanges have been recorded in the period the positions are settled. </font></div><div style="text-align:justify;text-indent:-2.25pt"><font><br></font></div><div style="text-align:justify;text-indent:-2.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjustments to fuel and purchased power</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">We adjust for depreciation on our mining equipment included in fuel and purchased power.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">We adjust for items resulting from the decision to accelerate being off-coal and accelerating the shut-down of the Highvale mine at the end of 2021 as it is not reflective of ongoing business performance. Within fuel and purchased power this included coal inventory write-downs.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">On the commissioning of the South Hedland facility in July 2017, we prepaid approximately $74 million of electricity transmission and distribution costs. Interest income is recorded on the prepaid funds. 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Refer to the Kent Hills Wind Facilities Rehabilitation section of this MD&#38;A for further details.</font></div><div style="text-align:justify;text-indent:-2.25pt"><font><br></font></div><div style="text-align:justify;text-indent:-2.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjustments for equity accounted investments</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">During the fourth quarter of 2020, we acquired a 49 per cent interest in the Skookumchuck wind facility, which is treated as an equity investment under IFRS and our proportionate share of the net earnings is reflected as equity income on the statement of earnings under IFRS. As this investment is part of our regular power-generating operations, we have included our proportionate share of the adjusted EBITDA of Skookumchuck wind facility in our total adjusted EBITDA. In addition, in the Wind and Solar segment adjusted results, we have included our proportionate share of revenues and expenses to reflect the full operational results of this investment. We have not included equity interest in EMG's adjusted EBITDA in our total adjusted EBITDA as it does not represent our regular power-generating operations. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average Annual EBITDA</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average annual EBITDA is a non-IFRS financial measure that is forward-looking, used to show the average annual EBITDA that the project currently under construction is expected to generate upon completion.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M38</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Funds From Operations (&#34;FFO&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">FFO is an important metric as it provides a proxy for cash generated from operating activities before changes in working capital and provides the ability to evaluate cash flow trends in comparison with results from prior periods. FFO is a non-IFRS measure. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjustments to cash from operations</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Includes FFO related to the Skookumchuck wind facility, which is treated as an equity accounted investment under IFRS and equity income, net of distributions from joint ventures is included in cash flow from operations under IFRS. As this investment is part of our regular power generating operations, we have included our proportionate share of FFO.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Payments received on finance lease receivables reclassified to reflect cash from operations.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">We adjust for items included in cash from operations related to the decision in 2020 to accelerate being off-coal and accelerating the shut-down of the Highvale mine by the end of 2021 and the write-down on parts and material inventory for our coal operations (&#34;Clean energy transition provisions and adjustments&#34;).</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#9642;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:17.62pt">Cash received&#47;paid on closed positions are reflected in the period that the position is settled.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Free Cash Flow </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">FCF is an important metric as it represents the amount of cash that is available to invest in growth initiatives, make scheduled principal repayments on debt, repay maturing debt, pay common share dividends or repurchase common shares. Changes in working capital are excluded so FFO and FCF are not distorted by changes that we consider temporary in nature, reflecting, among other things, the impact of seasonal factors and timing of receipts and payments. FCF is a non-IFRS measure. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-IFRS Ratios</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">FFO per share, FCF per share and adjusted net debt to adjusted EBITDA are non-IFRS ratios that are presented in the MD&#38;A. See the Reconciliation of Cash Flow from Operations to FFO and FCF and Key Financial Non-IFRS Ratios sections of this MD&#38;A for additional information.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">FFO per share and FCF per share </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">FFO per share and FCF per share are calculated using the weighted average number of common shares outstanding during the period. FFO per share and FCF per share is a non-IFRS ratio.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Supplementary Financial Measures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial highlights presented on a proportional basis of TransAlta Renewables, deconsolidated adjusted EBITDA, deconsolidated FFO and deconsolidated net debt to deconsolidated adjusted EBITDA are supplementary financial measures the Company uses to present adjusted EBITDA on a deconsolidated basis and excludes the portion of TransAlta Renewables and TA Cogen that are not owned by TransAlta. See the Financial Highlights on a Proportional Basis of TransAlta Renewables and Key Financial Non-IFRS Ratios sections of this MD&#38;A for additional information.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The Alberta Electricity Portfolio metrics disclosed are also supplementary financial measures used to present the gross margin by segment within the Alberta Electricity Portfolio. Refer to the Alberta Electricity Portfolio section of this MD&#38;A for additional information.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M39</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_136"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font 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style="width:7.714%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.156%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.236%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font 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1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">127</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">36</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">461</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font 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colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">128</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(56)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">87</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(87)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(65)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized foreign exchange (gain) loss on commodity</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">111</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">262</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">96</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">632</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(171)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">458</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">147</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">71</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">146</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">71</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">230</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">231</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">12</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">104</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">29</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">57</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">393</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(172)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">45</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">117</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Insurance recovery </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted net other operating income</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(13)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(23)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(115)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment reversal</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">24</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(62)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Loss before income taxes</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(22)</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. </font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA is not defined and has no standardized meaning under IFRS. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M40</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings before income taxes for the three months ended June 30, 2021&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.015%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.714%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.156%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.236%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Attributable to common shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:400;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">79&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">287&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">101&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">623&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(28)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">16&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(6)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">114&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">276&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">643&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">619&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">110&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Mine depreciation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(26)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(50)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Coal inventory write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">83&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">65&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">54&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">215&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">42&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">161&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">50&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">440&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(74)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">362&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">45&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Parts and materials write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted OM&#38;A</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">24&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">123&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(24)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(123)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment charge</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(16)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(60)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">14&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">72&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div id="i38116e15179d46ad9ff458c8978b85d1_85"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) During the three months ended June 30, 2021, $3 million related to station service costs for the Hydro segment were reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">5) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M41</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings before income taxes for the 6 months ended June 30, 2022&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.175%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.829%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.076%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Attributable to common shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Hydro</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:3.9pt;font-weight:700;line-height:100%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:700;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">191</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">561</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">202</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">62</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,200</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(34)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(46)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(58)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">182</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">219</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">553</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">213</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,250</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(50)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">278</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">276</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">165</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">467</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">469</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">30</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">28</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">172</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">204</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">247</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">51</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">755</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(52)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">696</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">31</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">89</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">33</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">41</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Insurance recovery</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted net other operating income</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(10)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(20)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(30)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(7)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(37)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(41)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(232)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment reversal</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">66</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(129)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal.  </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. </font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA is not defined and has no standardized meaning under IFRS. </font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M42</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings before income taxes for the 6 months ended June 30, 2021&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.175%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.874%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.316%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.756%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Attributable to common shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Wind &#38; Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.22pt;font-weight:400;line-height:100%;position:relative;top:-2.27pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.22pt;font-weight:400;line-height:100%;position:relative;top:-2.27pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Energy Transition</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.22pt;font-weight:400;line-height:100%;position:relative;top:-2.27pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Energy<br>Marketing</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Equity accounted investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.22pt;font-weight:400;line-height:100%;position:relative;top:-2.27pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">Reclass Adjustments</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">IFRS Financials</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">170&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">553&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">240&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">99&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,270&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Unrealized mark-to-market (gain) loss</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(51)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(12)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(33)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(29)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted revenues</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">203&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">171&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">536&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,299&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(29)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,261&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Fuel and purchased power</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">218&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">221&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Australian interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Mine depreciation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(53)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(52)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(105)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Coal inventory write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted fuel and purchased power</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">163&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">158&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">342&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">118&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">460&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Carbon compliance</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">71&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">92&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gross margin</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">194&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">164&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">302&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">90&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">865&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(9)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(147)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">OM&#38;A</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">87&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">252&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Reclassifications and adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Parts and materials write-down</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted OM&#38;A</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">85&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">46&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">227&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">251&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:middle"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Taxes, other than income taxes</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">18&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net other operating income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(32)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Finance lease income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">13&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(272)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Asset impairment charge</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(45)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(123)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Foreign exchange gain</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">21&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Gain on sale of assets and other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Earnings before income taxes</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. Refer to Note 1 for further details.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) During the six months ended June 30, 2021, $5 million related to station service costs for the Hydro segment was reclassified from OM&#38;A to fuel and purchased power for comparative purposes. This did not impact previously reported net earnings.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Adjusted EBITDA is not defined and have no standardized meaning under IFRS. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M43</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_88"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The table below reconciles our cash flow from operating activities to our FFO and FCF&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.723%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow from operating activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in non-cash operating working capital balances</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">260</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash flow from operations before changes in working capital</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">208&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">298</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share of adjusted FFO from joint venture</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Clean energy transition provisions and adjustments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">399</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct&#58;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustaining capital</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Productivity capital</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid on preferred shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions paid to subsidiaries&#8217; non-controlling interests</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(72)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments on lease liabilities and other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FCF</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">253</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of common shares outstanding in the period</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Includes our share of amounts for Skookumchuck wind facility, an equity accounted joint venture.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes a write-down on parts and material inventory for our coal operations in 2021 to net realizable value.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Other consists of production 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Refer to the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M44</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_91"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The table below bridges our adjusted EBITDA to our FFO and FCF&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.723%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(104)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(99)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realized foreign exchange gain (loss)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Decommissioning and restoration costs settled</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-cash items</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">399</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct&#58;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustaining capital</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Productivity capital</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid on preferred shares</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions paid to subsidiaries&#8217; non-controlling interests</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(72)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments on lease liabilities and other </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;FCF</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">253</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Adjusted EBITDA is defined in the Additional IFRS Measures and Non-IFRS Measures section and reconciled to earnings (loss) before income taxes above.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Includes our share of amounts for Skookumchuck wind facility, an equity accounted joint venture.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) FFO and FCF are defined in the Additional IFRS Measures and Non-IFRS Measures section and reconciled to cash flow from operating activities above.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M45</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_94"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Financial Highlights on a Proportional Basis of TransAlta Renewables</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The proportionate financial information below reflects TransAlta's share of TransAlta Renewables relative to TransAlta's total consolidated figures. The financial highlights presented on a proportional basis of TransAlta Renewables are supplementary financial measures to reflect TransAlta Renewables' portion of the consolidated figures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consolidated Results</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following table reflects the generation and summary financial information on a consolidated basis during the period&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:28.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.617%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.617%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.620%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Actual Generation (GWh)</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td colspan="3" style="display:none"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings before income taxes</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,072</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">889&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">734</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">755&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables before adjustments</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,965</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,806&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">126</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Less&#58; Proportion of TransAlta Renewables not owned by TransAlta Corporation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(784)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(712)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Portion of TransAlta Renewables owned by TransAlta Corporation</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,181</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,094&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">76</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Add&#58; TransAlta Corporation's owned assets excluding TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">374</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,069&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">290</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">484&#160;</font></td><td style="padding:2px 1pt 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">229</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">281&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td colspan="3" style="display:none"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings before income taxes</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,341</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,958&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">156</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,669</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,513&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TransAlta Renewables before adjustments</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,210</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,673&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">265</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">220&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Less&#58; Proportion of TransAlta Renewables not owned by TransAlta Corporation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,680)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,460)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Portion of TransAlta Renewables owned by TransAlta Corporation</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,530</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,213&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Add&#58; TransAlta Corporation's owned assets excluding TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,562</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,945&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,343</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,900&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Corporation with Proportionate Share of TransAlta Renewables</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">554&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">193</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TransAlta Consolidated</font></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Wind and Solar and Gas segments include those assets that TransAlta Renewables holds an economic interest in.</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M47</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_97"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Key Non-IFRS Financial Ratios</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The methodologies and ratios used by rating agencies to assess our credit rating are not publicly disclosed. We have developed our own definitions of ratios and targets to help evaluate the strength of our financial position. These metrics and ratios are not defined and have no standardized meaning under IFRS and may not be comparable to those used by other entities or by rating agencies.</font></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjusted Net Debt to Adjusted EBITDA </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:67.439%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.631%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Period-end long-term debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,179</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,267&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Exchangeable securities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">337</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; Cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 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style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted net debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,287</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,307&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,183</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,286&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Adjusted net debt to adjusted EBITDA (times)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2.8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.6&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Consists of current and long-term portion of debt, which includes lease liabilities and tax equity financing.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Exchangeable preferred shares are considered equity with dividend payments for credit-rating purposes. For accounting purposes, they are accounted for as debt with interest expense in the unaudited interim condensed consolidated financial statements. For purposes of this ratio, we consider 50 per cent of issued preferred shares, including these, as debt.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Includes principal portion of TransAlta OCP restricted cash (nil for the period ended June 30, 2022) and fair value of hedging instruments on debt (included in risk management assets and&#47;or liabilities on the unaudited interim condensed consolidated statements of financial position).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) The tax equity financing for Skookumchuck wind facility, an equity accounted joint venture, is not represented in the amounts. Adjusted net debt is not defined and has no standardized meaning under IFRS. Presenting this item from period to period provides management and investors with the ability to evaluate earnings trends more readily in comparison with prior periods&#8217; results. See the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Last 12 months. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company's capital is managed internally and evaluated by management using a net debt position. We use the adjusted net debt to adjusted EBITDA ratio as a measurement of financial leverage and assess our ability to pay off debt. Our adjusted net debt to adjusted EBITDA ratio was higher compared to the same period in 2021 as a result of lower adjusted EBITDA in the six months ended June 30, 2022, lower cash and cash equivalents and lower debt repayments.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M48</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_100"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deconsolidated Adjusted EBITDA by Segment</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We invest in our assets directly as well as with joint venture partners. Deconsolidated financial information is</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> a supplementary financial measure</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> and is not intended to be, presented in accordance with IFRS. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA is a key metric for TransAlta and TransAlta Renewables and provides management and shareholders a representation of core business profitability. Deconsolidated EBITDA is used in key planning and credit metrics and segment results highlight the operating performance of assets held directly at TransAlta that are comparable from period to period.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">A reconciliation of adjusted EBITDA to deconsolidated adjusted EBITDA by segment results is set out below&#58; </font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:24.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.079%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.364%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30, 2022</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3 months ended June 30, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Deconsolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Deconsolidated</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">279</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">126</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">153</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; TA Cogen adjusted EBITDA</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add&#58; Dividend from TransAlta Renewables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deconsolidated TransAlta adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) As of the second quarter of 2021, our share of amounts for the Skookumchuck wind equity accounted joint venture is excluded from the TransAlta deconsolidated results due to the sale of an economic interest in the 137 MW Skookumchuck wind facility to TransAlta Renewables.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.521%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.885%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6 months ended June 30, 2022</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6 months ended June 30, 2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Deconsolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Deconsolidated</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Hydro</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">149</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wind and Solar</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">156</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gas</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">230&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Transition</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Energy Marketing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Corporate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDA</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">538</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">265</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">273</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">220&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; TA Cogen adjusted EBITDA</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(29)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; EBITDA from joint  venture investments</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add&#58; Dividend from  TransAlta Renewables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add&#58; Dividend from TA Cogen</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deconsolidated TransAlta adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">329</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">432&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) As of the second quarter of 2021, our share of amounts for the Skookumchuck wind equity accounted joint venture is excluded from the TransAlta deconsolidated results due to the sale of an economic interest in the 137 MW Skookumchuck wind facility to TransAlta Renewables.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M49</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deconsolidated FFO</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company has set capital allocation targets based on deconsolidated FFO 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Deconsolidated financial information is a supplementary financial measure and is not defined and has no standardized meaning under IFRS, and may not be comparable to those used by other entities or by rating agencies. See also the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A for further details. 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months ended June 30, 2022</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3 months ended June 30, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 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colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font 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style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow from operations before changes in working capital</font></td><td colspan="2" 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td 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style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">220</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">94</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">126</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividend from TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions to TA Cogen's Partner</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 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#000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TransAlta Deconsolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Consolidated</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:400;line-height:100%">TransAlta Deconsolidated</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow from operating  activities</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">182&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in non-cash operating working capital balances</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow from operations before changes in working capital</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">298</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Decrease in finance lease receivable</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Clean energy transition provisions and adjustments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realized gain (loss) on closed exchange positions</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">58</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share of FFO from joint venture</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Finance income - economic interests</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(49)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;FFO - economic interests</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Other</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">399</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">189</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">306&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 16pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividend from TransAlta Renewables</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">75</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 16pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions to TA Cogen's Partner</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(22)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-9pt"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; Share of adjusted FFO from joint venture</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidated TransAlta FFO</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">242</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) As of the second quarter of 2021, our share of amounts for the Skookumchuck wind equity accounted joint venture is excluded from the TransAlta deconsolidated results due to the sale of an economic interest in the 137 MW Skookumchuck wind facility to TransAlta Renewables.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) FFO - economic interests calculated as Free Cash Flow economic interests plus sustaining capital expenditures economic interests plus&#47;minus currency adjustment.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Other consists of production tax credits, which is a reduction to tax equity debt, less distributions from equity accounted joint venture.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M51</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_103"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deconsolidated Net Debt to Deconsolidated Adjusted EBITDA</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In addition to reviewing fully consolidated ratios and results, management reviews net debt to adjusted EBITDA on a deconsolidated basis to highlight TransAlta's financial flexibility, balance sheet strength and leverage. Deconsolidated financial information is a</font><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> supplementary financial measure and is not defined under IFRS and may not be comparable to those used by other entitie</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">s or by rating agencies. See also the Additional IFRS Measures and Non-IFRS Measures section of this MD&#38;A for further details. </font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.446%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2022</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dec. 31, 2021</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,287</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,307&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add&#58; TransAlta Renewables cash and cash equivalents</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">218</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; TransAlta Renewables long-term debt</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(785)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(814)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; US tax equity financing and South Hedland debt</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(813)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(867)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidated net debt</font></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,907</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,870&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidated adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)(5)</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">772</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">875&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidated net debt to deconsolidated adjusted EBITDA</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4) </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(times)</font></div></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2.5</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.1&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(1) Refer to the Adjusted Net Debt to Adjusted EBITDA calculation under the Key Financial Non-IFRS Ratios section of this MD&#38;A for the reconciliation and composition of Adjusted net debt.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(2) Relates to assets where TransAlta Renewables has economic interests.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(3) Refer to the Deconsolidated Adjusted EBITDA by Segment section of this MD&#38;A for the reconciliation and composition of deconsolidated adjusted EBITDA.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(4) The non-IFRS ratio is not a standardized financial measure under IFRS and might not be comparable to similar financial measures disclosed by other issuers.</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:120%">(5) Last 12 months.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our deconsolidated net debt to deconsolidated adjusted EBITDA ratio for the six months ended June 30, 2022, increased compared with 2021, due to higher deconsolidated net debt and lower deconsolidated adjusted EBITDA. Higher deconsolidated net debt is a result of lower scheduled repayments on corporate debt and an decrease in cash balances.</font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_106"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Critical Accounting Policies and Estimates</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of unaudited interim condensed consolidated financial statements requires management to make judgments, estimates and assumptions that could affect the reported amounts of assets, liabilities, revenues, expenses and disclosures of contingent assets and liabilities during the period. These estimates are subject to uncertainty. Actual results could differ from these estimates due to factors such as fluctuations in interest rates, foreign exchange rates, inflation and commodity prices and changes in economic conditions, legislation and regulations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Estimates to the extent to which the geopolitical events such as the Russia-Ukraine conflict may, directly or indirectly, impact the Company's operations, financial results and conditions in future periods are also subject to significant uncertainty. Uncertainty related to COVID-19 and the geopolitical events have been considered in our estimates as at and for the period ended June 30, 2022. Refer to the Governance and Risk Management section of this MD&#38;A for further details.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The following were material changes in estimates in the quarter&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Asset Impairments</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the six months ended June 30, 2022, the Company recorded asset impairment charges of $27&#160;million, for three wind assets within the Wind and Solar segment and one of the hydro facilities within the Hydro segment, primarily as a result of increases in the discount rates. Refer to Note 5 of our unaudited interim condensed consolidated financial statements for further details.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M52</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Provisions for Decommissioning and Restoration Activities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Initial decommissioning provisions, and subsequent changes thereto, are determined using the Company&#8217;s best estimate of the required cash expenditures, adjusted to reflect the risks and uncertainties inherent in the timing and amount of settlement. For the six months ended June 30, 2022, the provision for the decommissioning and restoration obligations decreased by $194 million to $599&#160;million as at June 30, 2022, from $793 million as at Dec. 31, 2021, as a result of higher discount rates, largely driven by underlying market benchmark rates. On average, discount rates increased with rates ranging from 6.8 to 9.3 per cent as at June 30, 2022 (Dec. 31, 2021 &#8212; 3.6 to 6.5 per cent). Refer to Note 17 of our unaudited interim condensed consolidated financial statements for further details. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Defined Benefit Obligation </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The liability for pension and post-employment benefits and associated costs included in compensation expenses are impacted by estimates related to changes in key actuarial assumptions, including discount rates. As a result of increases in discount rates, largely driven by increases in market benchmark rates, the defined benefit obligation decreased by $46&#160;million to $182&#160;million as at June 30, 2022, from $228 million as at Dec. 31, 2021. A 1 per cent increase in discount rates would have a $40 million impact on the defined benefit obligation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to Note 2(P) of the Company&#8217;s 2021 audited annual consolidated financial statements for further details on the Significant Accounting Judgments and Key Sources of Estimation Uncertainty. </font></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_109"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Accounting Changes</font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Current Accounting Policy Changes</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company&#8217;s audited annual consolidated financial statements for the year ended Dec. 31, 2021, except for the adoption of new standards effective as of Jan. 1, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On May 14, 2020, the IASB issued</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%"> Onerous Contracts &#8212; Cost of Fulfilling a Contract</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> and amendments to IAS 37 </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Provisions, Contingent Liabilities and Contingent Assets</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> to specify which costs to include when assessing whether a contract will be loss-making. The amendments are effective for annual periods beginning on or after Jan. 1, 2022 and the Company adopted these amendments as of Jan. 1, 2022. The amendments are effective for contracts for which an entity has not yet fulfilled all its obligations on or after the effective date. No adjustments resulted on adoption of the amendments on Jan 1, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Future Accounting Policy Changes</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Please refer to Note 3 of the audited annual 2021 consolidated financial statements for the future accounting policies impacting the Company. In the three and six months ended June 30, 2022, no additional future accounting policy changes impacting the Company were identified.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparative Figures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:1pt;font-weight:400;line-height:112%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Certain comparative figures have been reclassified to conform to the current period&#8217;s presentation. These reclassifications did not impact previously reported net earnings (loss).</font></div><div><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_112"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Governance and Risk Management</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Our business activities expose us to a variety of risks and opportunities including, but not limited to, regulatory changes, rapidly changing market dynamics and increased volatility in our key commodity markets. Our goal is to manage these risks and opportunities so that we are in a position to develop our business and achieve our goals while remaining reasonably protected from an unacceptable level of risk or financial exposure. We use a multi-level risk management oversight structure to manage the risks and opportunities arising from our business activities, the markets in which we operate and the political environments and structures with which we interface.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M53</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2022, the global economy continued to recover from the COVID-19 pandemic. The Russian government&#8217;s invasion of Ukraine on February 24, 2022 set off historic policy actions and global coordination of sanctions and commitments to reduce dependency on Russian energy including natural gas. This has contributed to global supply chain disruptions, commodity price volatility and potential increases to inherent cybersecurity risk. The Company continues to mitigate inflationary and supply chain risk pertaining to current development projects by locking in the prices of key materials where possible and employing the other supply chain risk mitigation strategies described in our 2021 Annual MD&#38;A. A prolonged Russia-Ukraine conflict and recent inflationary and supply chain dynamics could impact future construction project costs with the risk of rising prices on key materials. The Russia-Ukraine conflict continues to evolve as well as the scope and severity of the economic sanctions. Accordingly, the indirect impacts of the Russia-Ukraine conflict and rising inflation rates in the global markets remains uncertain at this time, but management continues to monitor and assess the resulting impacts. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest Rate Risk</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest rate risk arises as the fair value of future cash flows from a financial instrument fluctuates because of changes in market interest rates.</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:2pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Changes in interest rates can impact our borrowing costs.&#160;Changes in our cost of capital may also affect the feasibility of new growth initiatives.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At June 30, 2022, approximately 3 per cent (Dec 31, 2021 &#8211; 3 per cent) of our total debt portfolio was subject to changes in floating interest rates through a combination of floating rate debt and interest rate swaps. The Company has US$400 million maturing in November 2022 and we have hedged US$300 million of the underlying to reduce the interest rate risk. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Please refer to the Governance and Risk Management section of our 2021 Annual MD&#38;A and Note 12 of our unaudited interim condensed consolidated financial statements for details on our risks and how we manage them. Our risk management profile and practices have not changed materially from Dec. 31, 2021. </font></div><div><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_115"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Regulatory Updates</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Refer to the Policy and Legal Risks discussion in our 2021 annual MD&#38;A for further details that supplement the recent developments as discussed below&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Canada</font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Federal</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">On March 15, 2022, the Government of Canada&#8217;s Department of Environment and Climate Change Canada (&#8220;ECCC&#8221;) released a discussion paper (the &#8220;ECCC Paper&#8221;) regarding a proposed new Clean Electricity Standard (&#34;CES&#34;) to achieve a net-zero electricity sector in Canada by 2035. The ECCC Paper states the government&#8217;s intent to institute more stringent regulations on natural gas generation to achieve a net-zero grid by 2035. TransAlta is actively engaging with the federal and provincial governments with a focus on clarifying the implications of the regulatory proposal and emphasizing the important role that our current assets play in delivering reliability, affordability and competitiveness, as well as decarbonization objectives. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">On March 29, 2022, the Government of Canada released the 2030 Emissions Reduction Plan (&#34;ERP&#34;). This broad plan includes a broad set of regulatory, policy and funding initiatives designed to achieve Canada's national emissions reduction targets. Notably, the ERP relies heavily on electrification of the economy to reach Canada's national goals. TransAlta engaged the government regarding the design of the plan and will continue to engage on relevant initiatives moving forward.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Both the CES and ERP may create new opportunities for the development of renewables and energy storage projects in Canada.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">On June 8, 2022, the Government of Canada published the final regulation creating a federal GHG emissions offset system in the Canada Gazette, Part II-The </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Canadian Greenhouse Gas Offset Credit System Regulation</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">s. This regulation creates a new GHG credit market in Canada. However, TransAlta would not be able to use these credits for compliance under the present provincial regulatory programs nor generate credits from our existing facilities, in the absence of changes in policy and the development of additional federal offset protocols. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M54</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">The </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Clean Fuel Regulations (&#34;CFR&#34;)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%"> were published in the </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Canada Gazette</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">, Part II on July 6, 2022. The CFRs require producers and importers of liquid fossil fuels, such as gasoline and diesel, to gradually reduce the carbon intensity of these fuels beginning in December 2023. There may be opportunity for TransAlta to contract and build projects that reduce the lifecycle carbon intensity of fossil fuel using renewable electricity at production facilities as a compliance option under the CFRs.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Ontario </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">On June 2, 2022, Premier Doug Ford was re-elected as the Premier of Ontario with a majority government. Following the election, the government continued working on key files including&#58; the province's Emissions Performance Standards (&#34;EPS&#34;) carbon pricing system&#59; the role of natural gas in the electricity sector transition&#59; the development of a voluntary clean energy credit market&#59; and the development and implementation of procurement programs for the electricity sector. TransAlta's Ontario gas-fired thermal assets pass through carbon costs under current contracts, minimizing the impact of any change to the EPS. The Company continues to engage the government on the other relevant policy initiatives to mitigate risk and identify areas of potential opportunity.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">In 2022, the IESO moved forward with procurement and planning to meet the upcoming capacity needs in the province in the short, medium and long-term. The IESO is currently conducting a medium-term request for proposals (&#34;RFP&#34;) to procure up to 475 MW of capacity from existing generators, with award scheduled for the third quarter of 2022. In addition, the IESO is moving forward with long-term procurement processes to secure up to 3,500 MW of capacity with commercial delivery by 2025-2027. TransAlta continues to participate in these processes. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Alberta</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">In late 2021, the Alberta Electric System Operator (&#34;AESO&#34;) commenced work to assess the system impacts of a net-zero provincial electricity system by 2035, resulting in their first </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">Net-Zero Emissions Electricity Pathways Report</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> (the &#34;Report&#34;) on June 27, 2022. The AESO views the Report as the first step in understanding the operational, market and cost implications associated with a future of increased electrification and low-emission supply. TransAlta continues to engage in this work as we seek to understand the challenges and opportunities for the Alberta market in a net-zero future.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">The Government of Alberta also launched a consultation on changes to the Technology Innovation and Emissions Reduction (&#34;TIER&#34;) Regulation. TIER governs the provinces carbon pricing regime and changes to the system will have implications for TransAlta's thermal generating facilities in the province and the value of emissions credits from our renewables facilities. TransAlta plans to closely engage in the consultations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:115%">United States</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">On March 21, 2022, the U.S. Securities and Exchange Commission (&#34;SEC&#34;) released proposed rules to enhance and standardize climate-related disclosure for investors. The proposed rules cover climate risk governance and risk management, disclosure of material climate-related impacts over all time horizons, impacts business models and the impact of climate-related events. We anticipate the final rules will face legal challenges. The Company currently provides investors with information regarding our climate governance, risks and performance. We will closely monitor the rule-making and ensure continued alignment with all relevant requirements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The US mid-term elections will be held on November 8, 2022 and changes in Congress and the Senate could shift the focus of the government, specifically in terms of climate policy and renewable energy. There continues to be the potential for the renewal of the production and investment tax credit supports for wind and solar generation in 2022 and for new tax credits for storage and hydrogen technologies. TransAlta continues to monitor any potential changes for impacts on our growth plans.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Australia</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Australia held a national election on May 21, 2022. The Labour Party achieved a majority government. Since forming the Labour Party government, Australia has informed the United Nations that it will increase its Nationally Determined Contribution (&#34;NDC&#34;) commitment to increase the country&#8217;s 2030 emissions reduction goal from the current 26 to 28 per cent to 43 per cent below 2005 levels. The government also confirmed its intent to boost renewable electricity production to 82 per cent of electricity supply by 2030. We continue to see low policy risk to our existing Australian assets and policy support for continued industrial decarbonization. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M55</font></div></div></div><div id="i38116e15179d46ad9ff458c8978b85d1_118"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Disclosure Controls and Procedures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management is responsible for establishing and maintaining adequate internal control over financial reporting (&#8216;&#8216;ICFR&#8217;&#8217;) and disclosure controls and procedures (&#8220;DC&#38;P&#8217;&#8217;). During the six months ended June 30, 2022, the majority of our workforce supporting and executing our ICFR and DC&#38;P returned to work and continue to work remotely on a hybrid basis. The Company has implemented appropriate controls and oversight for both in-office and remote work. There has been minimal impact to the design and performance of our internal controls.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%">ICFR is a framework designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of audited annual consolidated financial statements for external purposes in accordance with IFRS. Management has used the </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">Internal Control </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8211; </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">Integrated Framework</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:115%"> issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) in order to assess the effectiveness of the Company&#8217;s ICFR.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">DC&#38;P refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under securities legislation is recorded, processed, summarized and reported within the time frame specified in applicable securities legislation. DC&#38;P include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in our reports that we file or submit under applicable securities legislation is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding our required disclosure.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Together, the ICFR and DC&#38;P frameworks provide internal control over financial reporting and disclosure. In designing and evaluating our ICFR and DC&#38;P, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives and as such may not prevent or detect all misstatements and management is required to apply its judgment in evaluating and implementing possible controls and procedures. Further, the effectiveness of ICFR is subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with policies or procedures may change. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In accordance with the provisions of National Instrument 52-109 and consistent with U.S. Securities and Exchange Commission guidance, the scope of the evaluation did not include internal controls over financial reporting of North Carolina Solar, which the Company acquired on Nov. 5, 2021. North Carolina Solar was excluded from management's evaluation of the effectiveness of the Company's internal control over financial reporting as at Dec. 31, 2021, due to the proximity of the acquisition to year-end. Further details related to the acquisition are disclosed in Note 4 to the Company's audited annual consolidated financial statements for the year ended Dec. 31, 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consistent with the evaluation at Dec. 31, 2021, the scope of the evaluation does not include controls over financial reporting of the assets acquired through the North Carolina Solar acquisition, which the Company acquired on Nov. 5, 2021. North Carolina Solar's total and net assets represented approximately 2 per cent and 3 per cent of the Company's total and net assets and 4 per cent of the Company's total net earnings, respectively, as at June 30, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Management has evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer, the effectiveness of our ICFR and DC&#38;P as of the end of the period covered by this MD&#38;A. Based on the foregoing evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as at June 30, 2022, the end of the period covered by this MD&#38;A, our ICFR and DC&#38;P were effective.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M56</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_121"></div><div><font style="color:#000f56;font-family:'Inter',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Glossary of Key Terms</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.153%"><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Electric System Operator (&#34;AESO&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The independent system operator and regulatory authority for the Alberta Interconnected Electric System. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Hydro Assets </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The Company's hydroelectric assets, owned through a wholly owned subsidiary, TransAlta Renewables Inc. These assets are located in Alberta consisting of the Barrier, Bearspaw, Cascade, Ghost, Horseshoe, Interlakes, Kananaskis, Pocaterra, Rundle, Spray, Three Sisters, Bighorn and Brazeau hydro facilities.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Power Purchase Arrangement (&#34;Alberta PPA&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A long-term arrangement established by regulation for the sale of electric energy from formerly regulated generating units to PPA buyers.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ancillary Services</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">As defined by the </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Electric Utilities Act</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">, Ancillary Services are those services required to ensure that the interconnected electric system is operated in a manner that provides a satisfactory level of service with acceptable levels of voltage and frequency.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Alberta Thermal</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The business segment previously disclosed as Canadian Coal has been renamed to reflect the ongoing conversion of the boilers to burn gas in place of coal. The segment includes the legacy and converted generating units at our Sundance and Keephills sites and includes the Highvale Mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Availability</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure of time, expressed as a percentage of continuous operation 24 hours a day, 365 days a year, that a generating unit is capable of generating electricity, regardless of whether or not it is actually generating electricity.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjusted Availability</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Availability is adjusted when economic conditions exist, such that planned routine and major maintenance activities are scheduled to minimize expenditures. In high price environments, actual outage schedules would change to accelerate the generating unit's return to service. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balancing Pool</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The Balancing Pool was established in 1999 by the Government of Alberta to help manage the transition to competition in Alberta's electric industry. Its current obligations and responsibilities are governed by the </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Electric Utilities Act</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> (effective June 1, 2003) and the Balancing Pool Regulation. For more information go to www.balancingpool.ca.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Carbon Tax</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sets a carbon price per tonne of Greenhouse Gas emissions related to transportation fuels, heating fuels and other small emission sources.</font></div></div><div style="display:inline-block;max-width:7.692%;min-width:6.692%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.155%"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capacity</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The rated continuous load-carrying ability, expressed in megawatts, of generation equipment.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Centralia</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The business segment previously disclosed as US Coal has been renamed to reflect the sole asset.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cogeneration</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A generating facility that produces electricity and another form of useful thermal energy (such as heat or steam) used for industrial, commercial, heating or cooling purposes.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Disclosure Controls and Procedures (&#34;DC&#38;P&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Refers to controls and other procedures designed to ensure that information required to be disclosed in the reports filed by the Company or submitted under securities legislation is recorded, processed, summarized and reported within the time frame specified in applicable securities legislation. DC&#38;P include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in its reports that it files or submits under applicable securities legislation is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dispatch optimization</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Purchasing power to fulfill contractual obligations, when economical. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Emissions Performance Standards (&#34;EPS&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Under the Government of Ontario, emission performance standards establish greenhouse gas (GHG) emissions limits for covered facilities.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Force Majeure</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Literally means &#8220;greater force.&#8221; These clauses excuse a party from liability if some unforeseen event beyond the control of that party prevents it from performing its obligations under the contract.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Free Cash Flow (&#34;FCF&#34;)</font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents the amount of cash that is available to invest in growth initiatives, make scheduled principal repayments on debt, repay maturing debt, pay common share dividends or repurchase common shares. Amount is calculated as cash generated by the Company through its operations (cash from operations) minus the funds used by the Company for the purchase improvement, or maintenance of the long-term assets to improve the efficiency or capacity of the Company (capital expenditures).</font></div><div style="text-align:justify"><font><br></font></div></div></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M57</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.153%"><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Funds from Operations (&#34;FFO&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents a proxy for cash generated from operating activities before changes in working capital and provides the ability to evaluate cash flow trends in comparison with results from prior periods. Amount is calculated as cash flow from operating activities before changes in working capital and is adjusted for transactions and amounts that the Company believes are not representative of ongoing cash flows from operations. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Gigajoule (&#34;GJ&#34;)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A metric unit of energy commonly used in the energy industry. One GJ equals 947,817 British Thermal Units (&#34;Btu&#34;). One GJ is also equal to 277.8 kilowatt hours (&#34;kWh&#34;).</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Gigawatt (&#34;GW&#34;)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure of electric power equal to 1,000 megawatts.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Gigawatt hour (GWh)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure of electricity consumption equivalent to the use of 1,000 megawatts of power over a period of one hour.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Greenhouse Gas (GHG)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A gas that has the potential to retain heat in the atmosphere, including water vapour, carbon dioxide, methane, nitrous oxide, hydrofluorocarbons and perfluorocarbons.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Heating Degree Days (HDD)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure designed to quantify the demand for energy needed to heat a building. It is the number of degrees that a day's average temperature is below 65&#176; Fahrenheit (18&#176; Celsius), which is the temperature below which buildings need to be heated.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IFRS </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">International Financial Reporting Standards. </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICFR </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Internal control over financial reporting.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">KH Bonds</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The Kent Hills Wind LP non-recourse project bonds secured by, among other things, the Kent Hills 1, 2 and 3 wind facilities.</font></div><div><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Megawatt (MW)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure of electric power equal to 1,000,000 watts.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Megawatt Hour (&#34;MWh&#34;)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A measure of electricity consumption equivalent to the use of 1,000,000 watts of power over a period of one hour.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Merchant</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A term used to describe assets that are not contracted and are exposed to market pricing.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OM&#38;A </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Operations, maintenance and administration costs. </font></div><div style="text-align:justify"><font><br></font></div></div><div style="display:inline-block;max-width:7.692%;min-width:6.692%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.155%"><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other Hydro Assets</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The Company's hydroelectric assets located in British Columbia, Ontario and assets owned by TransAlta Renewables which include the Taylor, Belly River, Waterton, St. Mary, Upper Mamquam, Pingston, Bone Creek, Akolkolex, Ragged Chute, Misema, Galetta, Appleton and Moose Rapids facilities.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Power Purchase Agreement (&#34;PPA&#34;) </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A long-term commercial agreement for the sale of electric energy to PPA buyers.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PP&#38;E </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Property, plant and equipment.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Turbine</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">A machine for generating rotary mechanical power from the energy of a stream of fluid (such as water, steam or hot gas). Turbines convert the kinetic energy of fluids to mechanical energy through the principles of impulse and reaction or a mixture of the two.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Planned outage</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Periodic planned shutdown of a generating unit for major maintenance and repairs. Duration is normally in weeks. The time is measured from unit shutdown to putting the unit back on line.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#58e0f6;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Unplanned outage</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The shutdown of a generating unit due to an unanticipated breakdown.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div></div></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M58</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div id="i38116e15179d46ad9ff458c8978b85d1_124"></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TransAlta Corporation</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">110 - 12th Avenue S.W.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Box 1900, Station &#8220;M&#8221;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Calgary, Alberta T2P 2M1</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Phone </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">403.267.7110</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Website</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">www.transalta.com</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Computershare Trust Company of Canada </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suite 600, 530 - 8th Avenue SW</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Calgary, Alberta T2P 3S8</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Phone </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Toll-free in North America&#58; 1.800.564.6253</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outside North America&#58; 514.982.7555</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fax </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Toll-free in North America&#58; 1.800.453.0330</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outside North America&#58; 403.267.6529</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Website </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">www.investorcentre.com</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FOR MORE INFORMATION</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investor Inquiries</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Phone</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Toll-free in North America&#58; 1.800.387.3598</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Calgary or Outside North America&#58; 403.267.2520</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">E-mail</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">investor_relations&#64;transalta.com </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Media Inquiries</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Phone</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Toll-free 1.855.255.9184</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">or 403.267.2540</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:700;line-height:120%">E-mail</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:9pt;font-weight:400;line-height:120%">TA_Media_Relations&#64;transalta.com</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Inter',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TRANSALTA CORPORATION </font><font style="color:#000000;font-family:'Inter',sans-serif;font-size:7pt;font-weight:700;line-height:120%">M59</font></div></div></div></body></html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>4
<FILENAME>a20220630tacex311.htm
<DESCRIPTION>EX-31.1
<TEXT>
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<title>Document</title></head><body><div id="i7e80eec9cac64342a3cdee0fe77d8692_1"></div><div style="min-height:44.1pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt;text-align:right"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibit&#160;31.1</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Certifications</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I, John H. Kousinioris, certify that&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">I have reviewed the quarterly report for the fiscal quarter ended June 30, 2022 on Form 6-K, of TransAlta Corporation&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">The registrant&#8217;s other certifying officer(s)&#160;and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&#160;13a-15(e)&#160;and 15d-15(e)) for the registrant and have&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.93pt">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.41pt">Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.33pt">Disclosed in this report any change in the issuer&#8217;s internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s internal control over financial reporting.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">The registrant&#8217;s other certifying officer(s)&#160;and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions)&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.93pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer&#8217;s ability to record, process, summarize and report financial information&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.41pt">any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer&#8217;s internal control over financial reporting.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August&#160;4, 2022</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; John H. Kousinioris</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">John H. Kousinioris</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President and Chief Executive Officer</font></td></tr></table></div><div style="height:44.1pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>5
<FILENAME>a20220630tacex312.htm
<DESCRIPTION>EX-31.2
<TEXT>
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<title>Document</title></head><body><div id="i0c5a9a86672f41539112dd4522cf55d1_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right;text-indent:27pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibit&#160;31.2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Certifications</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I, Todd Stack, certify that&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">I have reviewed the quarterly report for the fiscal quarter ended June 30, 2022 on Form 6-K,  of TransAlta Corporation&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">The registrant&#8217;s other certifying officer(s)&#160;and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&#160;13a-15(e)&#160;and 15d-15(e)) for the registrant and have&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.93pt">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.41pt">Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.33pt">Disclosed in this report any change in the issuer&#8217;s internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s internal control over financial reporting.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.08pt">The registrant&#8217;s other certifying officer(s)&#160;and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions)&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.93pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information&#59; 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Todd Stack</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Todd Stack</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:1pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Executive Vice-President, Finance<br>and Chief Financial Officer</font></td></tr></table></div><div style="margin-bottom:12pt"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>6
<FILENAME>a20220630tacex321.htm
<DESCRIPTION>EX-32.1
<TEXT>
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<title>Document</title></head><body><div id="i678e8e8dfe014d7e8724b7d93a7dd8a9_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibit&#160;32.1</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Certification of Chief Executive Officer</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to 18 U.S.C. &#167; 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of TransAlta Corporation (the &#8220;Company&#8221;) hereby certifies, to such officer&#8217;s knowledge, that&#58;</font></div><div><font><br></font></div><div style="padding-left:45pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;the accompanying Report of Foreign Private Issuer on Form 6-K of the Company (the &#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended&#59; and</font></div><div style="padding-left:27pt"><font><br></font></div><div style="padding-left:45pt;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></div><div style="padding-left:45pt;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:45pt;text-indent:-13.5pt"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:33.187%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; John H. Kousinioris</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">John H. Kousinioris</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President and Chief Executive Officer</font></td></tr></table></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dated&#58; August&#160;4, 2022</font></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
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<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>7
<FILENAME>a20220630tacex322.htm
<DESCRIPTION>EX-32.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="i033ea1ad997e464bbf6d24b0c5ac336a_1"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exhibit&#160;32.2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Certification of Chief Financial Officer</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Pursuant to 18 U.S.C. &#167; 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of TransAlta Corporation (the &#8220;</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8221;) hereby certifies, to such officer&#8217;s knowledge, that&#58;</font></div><div><font><br></font></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%">(i)&#160;&#160;&#160;&#160;the accompanying Report of Foreign Private Issuer on Form 6-K of the Company (the &#8220;</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Report</font><font style="color:#000000;font-family:'Lato',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8221;) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended&#59; 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<DOCUMENT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
